BP Stock Jumps On Report of Possible Acquisition by Shell

Zinger Key Points

Shell is considering acquiring BP, but waiting for further stock and oil price declines before making a final decision.
Other companies are also reportedly evaluating whether to pursue an acquisition of BP.
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BP P.L.C. BP shares are trading higher Monday following a report suggesting Shell PLC SHEL is considering acquiring the company.

What To Know: According to Bloomberg, Shell is evaluating a potential acquisition of BP, but waiting for further stock and oil price declines before making a final decision.

Other companies are also reportedly evaluating whether to pursue an acquisition of BP.

Shell has been in discussions with its advisors regarding a possible deal. Shell may choose to focus on buybacks and smaller acquisitions.

When asked about the report, a Shell spokesperson said, "As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification."

BP Price Action: At the time of writing, BP shares are trading 3.49% higher at $29.10, according to data from Benzinga Pro.

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