real-time news and commentary for investors
Friday, Sep 20
BP shares higher on Exxon's rumored takeover interest
- A rumor making the rounds today is a purported interest by Exxon Mobil (XOM -0.2%) in a takeover of BP (BP +0.5%).
- Such gossip is not new, the Telegraph points out; following the 2010 Gulf of Mexico disaster, BP frequent was rumored to be vulnerable to a takeover, with XOM named as a potential predator.
- As far-fetched as a deal sounds - why would XOM or anyone else want the aggravation? - BP shares are higher in a weak market.