Shell denies in a statement that the company has considered buying rival BP, after rumors in Wall Street Journal has sparked speculation about a possible takeover.
- Shell wishes to clarify that we have not actively considered making a bid for BP and confirms that we have not approached BP and that no discussions have taken place about a possible offer, says Shell, which has published the announcement in accordance with rule 2.8 of the UK Takeover Code.
Shell also emphasizes that the company currently has no intention of making an offer and that it is therefore bound by the restrictions in rule 2.8.
The announcements come after an article in the Wall Street Journal that the two companies were in initial talks about a deal worth approximately USD 85 billion (DKK 542 million). On Wednesday, the Wall Street Journal reported that Shell and BP were in the process of discussing a possible takeover. This initially caused BP's American ADR listing to rise by almost ten percent, before the price fell back.
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