BP Shares Jump on Reports That Shell Considered Merger Bid

by Hugh Collins on Jan.04, 2011, under Towing

Shares of BP (BP) jumped to the highest level in six months on media reports that Royal Dutch Shell (RDS.A) considered bidding for the British company during the Gulf Oil disaster.

BP shares climbed 5% to 488.85 pence at 10:00 GMT, Reuters reported.

British newspaper The Daily Mail reported that Shell considered a bid, but was discouraged by the uncertainty over the size of the compensation claims…

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BP Shares Jump on Reports That Shell Considered Merger Bid originally appeared on DailyFinance on Tue, 04 Jan 2011 07:08:00.

Filed Under: Energy, Company News, BP, Market News