In response to recent media speculation Shell (SHEL) wishes to clarify that it has not been actively considering making an offer for BP (BP) and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer. “This is a statement to which Rule 2.8 of the Code applies and accordingly Shell confirms it has no intention of making an offer for BP. As a result Shell will be bound by the restrictions set out in Rule 2.8 of the Code. We remain focused on delivering more value with less emissions through performance, discipline and simplification,” Shell stated. Under Note 2 on Rule 2.8 of the Code, Shell reserves the right to set the restrictions in Rule 2.8 aside in certain circumstances, the company added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BP:
- M&A News: Shell Stock (SHEL) Flows Higher After Battering Down $100B BP Takeover Talk
- Shell says not been actively considering making an offer for BP
- M&A News: British Petroleum (BP) in Talks To Be Acquired by Shell
- Shell ‘unlikely’ to buy all of BP, CNBC reports
- Shell tells Bloomberg no BP talks taking place