German stock market hits record high amid trade deal hopes; China-US shipments slump – business live
Rolling coverage of the latest economic and financial newsChina exports beat expectations despite slump in trade with USShares in BP have jumped 2.4% towards the top of the FTSE 100 leaderboard this morning, as takeover speculation continues to swirl around the UK oil company.The Financial Times has stirred the pot this morning, reporting that Shell, Chevron, ExxonMobil, TotalEnergies and Adnoc have all separately run the numbers on whether a bid would make sense.A sum of the parts valuation suggests BP’s assets are worth in excess of £120bn, without including debt and liabilities, more than twice its current market capitalisation of £57bn, which follows a sharp slump in its shares over the past 12 months.“The continued underperformance of BP makes it open to a takeover,” said a person close to the activist investor Elliott Management, which has built a leading stake in the company. Continue reading...
Rolling coverage of the latest economic and financial news
Shares in BP have jumped 2.4% towards the top of the FTSE 100 leaderboard this morning, as takeover speculation continues to swirl around the UK oil company.
The Financial Times has stirred the pot this morning, reporting that Shell, Chevron, ExxonMobil, TotalEnergies and Adnoc have all separately run the numbers on whether a bid would make sense.
A sum of the parts valuation suggests BP’s assets are worth in excess of £120bn, without including debt and liabilities, more than twice its current market capitalisation of £57bn, which follows a sharp slump in its shares over the past 12 months.
“The continued underperformance of BP makes it open to a takeover,” said a person close to the activist investor Elliott Management, which has built a leading stake in the company. Continue reading...
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