Shares of BP jumped Wednesday, lifted by a report that Shell was in talks to acquire it in what would mark a huge deal for the pair of U.K. oil giants, before giving back their gains.
Shell PLC (LSE:SHEL, NYSE:SHEL) is in early-stage talks to acquire its rival BP PLC (LSE:BP.) in what would be the largest oil deal in decades, according to a Wall Street Journal report.
Shell said on Wednesday that "no talks are taking place" after a Wall Street Journal article cited unnamed sources saying Shell was in early discussions to take over rival BP.
Shares of BP jumped Wednesday, lifted by a report that Shell was in talks to acquire it in what would mark a huge deal for the pair of U.K. oil giants.
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