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.
Share this..
Related stories
Why is HBOS so important?
If there is one company which has never been out of the headlines for some months now it is HBOS which is the combined Halifax and Bank of Scotland. But why is HBOS so important and why are so many parties seemingly interested in its future?
While nobody really knows the motivation behind the various parties interested in HBOS we have a bank which has literary fallen to its knees, i...
Woolworths back under serious pressure this evening
It has been revealed that ongoing efforts to sell the Woolworths retail arm are continuing with Hilco UK which specialises in restructuring troubled businesses. As we covered earlier in the week the reported sale price is just one pound although this has not been confirmed by the Woolworths board.
Shareholders in the troubled pix and mix group have come forward to suggest that the b...
Virgin Money steps up bid to buy RBS branches
Richard Branson's Virgin Money operation has hired a professional adviser with regards to a potential offer for the 320 Royal Bank of Scotland branches put for sale by the company. The branches have a book value of around £2 billion and the potential interest shown by Virgin Money will be well received by the UK government after the auction appeared to be falling by the wayside with only one cred...
Read MoreHBOS in talks with Lloyds Bank about a merger
News is breaking, unofficially, that HBOS is in advanced talks with Lloyds Bank about merging the operations of the two UK giants. While the HBOS share price continues to fall - hitting a sub-£1 level earlier today - it seems as though things may be happening behind the scenes. A takeout price of £3 a share is being mooted but whether this price is still 'good to go' after the recent fall rema...
Read MoreBye, Bye Sir Fred?
As the shareholders of the Royal Bank of Scotland (RBS) try to come to terms with the announcement of the largest loss in the group's history, there are large question marks over the future of the driving force of the group, Sir Fred Goodwin.
Sir Fred has left his bunker once more to state that the group has been numbed by the recent events but is galvanised for the fight ahead....