Shell is reportedly in discussions with BP regarding a potential $60 billion deal that could form one of the largest oil and gas companies globally. This potential merger follows BP's recent struggles with market value and investor confidence, particularly after failed attempts to transition towards green energy. While Shell focuses on growing its core oil and gas business and has seen its valuation rise, BP's continuous losses and challenges have made it an attractive target for acquisition. Recent comments from both companies reflect ongoing interest in consolidation within the industry.
The potential deal between Shell and BP could create an oil giant worth over $200 billion, marking a significant consolidation in the oil and gas industry.
BP has been flagged as a takeover target due to its inconsistent financial results and management challenges, leading to significant market value decline over the past year.
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