Shell Denies Talks of BP Buyout Amid Speculations

Shell has refuted reports of engaging in acquisition talks with BP, as stated by the Wall Street Journal. While BP faces takeover speculation due to underperformance, Shell insists on performance-driven strategies, leaving a potential deal uncertain amid regulatory scrutiny.

Shell has firmly denied rumors of acquisition talks with BP, following a Wall Street Journal report suggesting preliminary discussions about a potential takeover bid for the British company.

According to a Shell spokesperson, the company remains committed to value-driven performance and simplification, dismissing any ongoing negotiations. Meanwhile, BP has refrained from commenting on the matter.

Speculation about a BP buyout comes after years of underperformance and waning market valuation, yet a Shell bid appears unlikely given the high bar set for acquisitions amid increasing regulatory scrutiny. A takeover would be rare, reminiscent of abortive talks between Exxon and Chevron.

(With inputs from agencies.)