The largest takeover in the oil industry is coming; the market reacts with the growth of BP shares
The other day the British newspaper Evening Standard published the material on the potential possibility of the global takeover in the oil and gas sector. We are talking about the sale of the world’s largest company BP Plc (earlier – British Petroleum) to the company Exxon Mobil Corp. BP Plc is currently the second largest oil and gas company in the world. BP’s headquarters is based in London. According to Evening Standard the representatives of Americans appealed to the key shareholders of the British company to determine the possibility of the potential takeover.
During last Friday trade the shares quotations of the British oil and gas giant BP Plc grew to the maximum mark for the last month due to this publication. By the end of the trading session, securities soared to 4.707 British pounds. In relative terms, the growth has amounted to 3.7%. Experts believe that the upward trend will continue in the beginning of the trading week.
Unfortunately, the representatives of the British daily paper do not reveal the source of the confidential information. The representatives of such oil and gas giants as BP Plc and Exxon Mobil Corp also refuse to comment on the information leaked to the press.
According to the preliminary estimates, the transaction amount will be equal to 120 billion pounds sterling in case it takes place. It is quite possible that the company Chevron will also show interest to the purchase № 2 in the oil world.
It is expected that the transaction will not cause approval from the authorities of the British Kingdom. However, if all parties manage to agree, the future takeover will become the largest in the history of the oil and gas industry.
The material was prepared with the participation of Dmitriy Gorin,
a leading analyst of the brokerage company VOSPARI.