British oil and gas giant Shell is considering acquiring another oil and gas company - BP, popular with its former legal name British Petroleum, Bloomberg reported, citing its sources.
According to their information, the final decision has not yet been made. This will depend on whether BP shares continue to fall. Over the past year, they have already lost a third of their value, Bloomberg notes. BP's market value is currently around £56 billion (about $74 billion), while Shell's is £149 billion (about $197 billion).
A possible merger of these corporations would be one of the largest takeovers in the history of the oil and gas industry, the agency believes, recalling that these companies were previously close competitors.