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Stock impact report

Could Shell or Chevron Make a Move on BP? [Yahoo! Finance]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
Company Research Source: Yahoo! Finance
Speculation about a blockbuster acquisition involving BP resurfaced again this year after activist hedge fund Elliott bought nearly 5% in the UK-based supermajor and demanded changes, big and fast. BP's shares have underperformed the stocks of the other four of the Big Oil group – Shell, TotalEnergies, ExxonMobil, and Chevron – ever since 2020. Neither former BP CEO Bernard Looney, with the push toward renewables, nor his successor Murray Auchincloss, with the strategy reset to return on the path of oil and gas, have managed to erase the company's underperformance in the past five years. Speculation about another oil giant taking over BP is not new—such rumors have been swirling for over a decade, particularly ones suggesting that Shell could be the bidder for a merger with BP. But this year, Elliott's aggressive approach to the companies in which it buys significant stakes has rekindled speculation about BP becoming a target of the next mega-merger deal in the global oil ind Show less Read more
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