- North Africa-focused SDX Energy says it is in discussions with BP (BP +0.8%) to buy a "significant package of assets" in Egypt.
- BP has no comment, but Reuters reported earlier this year that the company was seeking buyers for its stake in its 50-year-old oil and gas business in Egypt, then estimated to be worth ~$500M.
- SPX says the acquisition would constitute a reverse takeover under AIM rules, thus its shares are suspended from London trading until a deal is announced.