BP-Shell deal would create European rival to Exxon, Chevron, Bloomberg says

If Shell (SHEL) were to acquire BP (BP), it would be among the largest deals in European history and would create a European oil major that could challenge Exxon Mobil (XOM) and Chevron (CVX), Mitchell Ferman of Bloomberg reports. While the circumstances for the takeover may not be favorable for BP, whose shares have lost almost a third of their value in the last year, the deal would be transformative for Shell.