US Edition
Shell denies takeover talks with UK rival BP
- The Wall Street Journal reported on June 29, 2025, that Shell is reportedly engaged in preliminary talks regarding a potential acquisition of its UK-based competitor, BP.
- Shell denies that takeover talks are taking place, calling the reports market speculation and stressing no active negotiations.
- Shell CEO Wael Sawan stated he prefers share buybacks over acquisitions unless there is clear financial upside and is focused on performance and simplification.
- Following the reports, BP’s US-listed shares rose about 7% while Shell’s shares fell roughly 3%, reflecting investor reactions to the potential deal.
- If realized, the acquisition could significantly reshape the European energy sector, but both companies face pressure balancing fossil fuel profits with low-carbon investments.
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Shell Squashes BP Takeover Rumors, Hits Six-Month Ban - Shell (NYSE:SHEL), BP (NYSE:BP)
Shell plc (NYSE:SHEL) has issued a statement addressing recent media speculation about a potential deal to acquire BP plc (NYSE:BP). “Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” the company said in a statement on Thursday. This is a statement to which Rule 2.8 of the Code applies. Rul…
·New York, United States
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Coverage Details
Total News Sources141
Leaning Left22Leaning Right7Center33Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 35%
C 53%
11%
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