Rivals are eyeing BP as a potential takeover target, calculating that the company may be too weak to defend itself as the energy sector faces a wave of mergers. But Mr Dudley said the group bolstered its defences before the oil price plummeted. “We have been able to divest $40bn of assets. This has reduced risk and left us in a better position to weather the storm facing our industry. We are making some very tough decisions,” he said. The company is seeking buyers for $2bn of US pipelines and storage terminals, according to Bloomberg.
Since the announcement of BG takeover the price has risen well i think only on speculation that bp could be next so it a tricky one but i think at the moment we in a win win situation if the oil price stays low we a takeover target and if it rises the share price will go up ok there still the spill to sort out and russian cooling down but thats priced in and the 5% divey
I'm long here, but I think looking at the historics getting above 500 will be hard and 520 looks like strong YoY resistance. Not sure what there is to lift this much higher. I'll be looking to bank around 490-500.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.