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BP shares soar on takeover talk as Gulf storm hovers

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posted on Jul, 4 2010 @ 06:48 AM

This story was published on July 1, but I this is the first I have seen it.

BP's shares soared on renewed talk that it could be taken over, despite warnings from officials that the oil giant is still weeks away from plugging its Gulf of Mexico leak.
I have been wondering if BP could eventually be taken over by someone or perhaps merge with another company. After all, I think it was just a few years after the Exxon-Valdez disaster that Exxon merged with Mobil. And from the looks of this article, Exxon may be coming into the picture again.

I did a thread awhile back about where BP seeking billions in loans to pay for this mess. Now there is a hint at a takeover. No surprise there, but it is looking more and more that BP is still likely to come out of all of this relatively unscathed. And that stinks!
I just hope they pay up what they owe and will owe.

posted on Jul, 4 2010 @ 08:19 AM
reply to post by Wayne60

Take over, lol, why? The only thing going on here is the desperation those holding BP stock must be feeling right now. They are probably spreading these rumors around in their desperate attempt to unload those soon to be worthless shares.

I'm sure other oil companies want their market share, their assets, contracts, "other" wells and untapped finds, but I doubt they would want BPs headache, nightmare, that gushing well. When BP goes into bankruptcy, then everyone will be chomping for their assets, when it will be broken up and sold off in pieces in some auction.

If they drilled through some high pressure pocket of gases on their way down to that oil, and the well through that gaseous section totally blew out, they will never be able to bottom kill that well and BP will be finished. Their assets will be sold to pay for this mess. And the shareholders will be left holding worthless paper.

posted on Jul, 4 2010 @ 11:32 AM
reply to post by Divinorumus


There may not be much for anyone to take over by the time all of this is over with.


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