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UK's BP shares tick up on report of additional takeover interest from rivals

ReutersMay 9, 2025 8:55 AM

BP shares rise 2.8% ICAG.L to 365.55p

Shell SHEL.L, Chevron CVX.N, Exxon MobilXOM.N and TotalEnergies TTEF.PA and ADNOC have "run the numbers" for a possible takeover of BP, Financial Times reports

Vitol could be interested in elements of the business-FT

Report says BP consulting people close to government about whether PM Keir Starmer will seek to defend co against takeover

ADNOC had considered buying BP but deliberations ended at preliminary talks, Reuters reported last year

Last week, Bloomberg News reported Shell working with advisers to evaluate potential acquisition of BP

At ~$75 bln, BP's market value is less than half of that of UK peer Shell's and much lower than that of other potential suitors

BP rated "hold" on avg; median PT is 410p, as per data compiled by LSEG

BP down ~27% in last 12 months vs Shell's ~15% drop

($1 = 0.7542 pounds)

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