.....a world class company being destroyed by the Americans....Exxon and their US biased courts....don't like foreign concerns that challenge their own champions in their own backyard.....American courts stopped Hershey merging with Cadbury....but Kraft can come over here and buy Cadbury....The US engineering sector ie GE, Honeywell, UTC are all unfairly financed by US defence budgets....Reg
It would make sense for Exxon to make a move now, whilst CC is ongoing. BP is a toxic buy in its present condition - with GN threat hanging over it. However, Exxon would be in a position to come to an 'arrangement' with DoJ, et al - which is likely to be denied Shell. The latter, being a 'Brit' company - at least in the eyes of the US - would run the risk of being shafted if they assumed ownership of BP pre-GN outcome.
The big question here is if and I stress if an interest or discussions are confirmed how far will we jump, will it be above 500, I think so, 15% premium would be the least they would have to pay and if a deal will be struck we might be closer to 600 depending on where we are at that time with the court cases. This is a long way off and total speculation, not ramping but based on previous takeover battles. Anything could happen and very likely that an interest from Exxon could cause a reaction from Shell or some gulf based companies. Wouldn't we just a love a bidding war for BP. For now keeping a very close eye on this one, I think the market will show before we hear something for sure. Apparently the FT Commodities editor is tweeting about this now
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