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Could BP become a bid target?

As the oil disaster in the Gulf of Mexico looks set to continue until at least August the impact upon the share price of BP is there for all to see. The shares have fallen from 650p to 430p wiping billions off the value of the company. Estimates regarding the overall cost, including compensation and fines, of the oil disaster in the Gulf of Mexico vary between a couple of billion dollars to upwards of 20 billion dollars!

As a consequence, there is speculation in the press this morning that BP itself could become a bid target with the likes of Shell and Exxon said to be keeping a close eye on the share price. Whether a bid will materialise for BP remains to be seen because the overall cost in money terms and reputation terms of the ongoing disaster is as yet unknown. It would take a brave company to step in at this stage to make a bid for BP and potentially put itself in line for massive fines in the future.

With thousands and thousands of barrels of oil pumping into the Gulf of Mexico each and every day the disaster is set to become one of the worst in living history.

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