The Daily Mail newspaper reported rival Royal Dutch Shell had considered a takeover bid during the Gulf of Mexico oil spill on Monday 3rd January 2011. The shares hit a 6 month high yesterday and rose another 4.25p again today. Yahoo (below) indicate a year target of 7.57 pounds.
| Last Trade: | 495.85 |
|---|---|
| Trade Time: | 13:34 |
| Change: |  4.25 (0.86%) |
| Prev Close: | 491.60 |
| Open: | 492.00 |
| Bid: | 495.85 |
| Ask: | 495.95 |
| 1y Target Est: | 7.75 |
| Day's Range: | 490.70 - 500.10 |
|---|---|
| 52wk Range: | 298.00 - 498.05 |
| Volume: | 22,944,500 |
| Avg Vol (3m): | 30,825,500 |
| Market Cap: | N/A |
| P/E (ttm): | N/A |
| EPS (ttm): | N/A |
| Div & Yield: | N/A (N/A) |
The newspaper said Shell could yet bid for BP if another suitor emerged but Europe's largest oil company by market value was unlikely to be the "first mover."
BP's shares have rebounded 65 percent from their June low at 296 pence, to give BP a market value of around $140 billion - Shell $210 billion - Exxon $370 billion.
Regulators might not look kindly on a merger between Shell and BP but maybe the Chinese Oil Company Sinopec or a Russia Company could be interested?
We do not think after the Gulf debacle shareholders will support the board as they have seen their share plunge and the dividend scrapped, at least for the time being. If there was an offer of 7.75 we think shareholders would accept for an investment in BG.L would have been far more rewarding over the last 5 years
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