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  • BP for sale.

    BBC News - BP shares rise on rumours of possible asset sales

    BP shares rise on rumours of possible asset sales
    Transocean Discoverer Inspiration arrives to install a "capping stack" on the Deepwater Horizon well The cost of containing the oil spill now stands at $3.5bn (£2.3bn).

    BP shares have risen sharply on speculation it may have buyers lined up for possible asset sales.

    The UK oil firm is thought to be planning the sell-offs in order to fund cost of the Gulf of Mexico clean-up, which has now reached $3.5bn (£2.3bn).

    BP shares closed up 9.5% at 399.4p on Monday. That is more than 30% higher than the low hit on 25 June, but 40% off its pre-spill peak.

    Among the rumoured buyers are PetroChina and US oil firm Apache Corp.
    “the misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all” -- Joan Robinson

  • #2
    Mergers & Acquisitions
    BP Holds Talks to Sell Assets to Apache
    July 11, 2010, 8:13 pm
    BP Holds Talks to Sell Assets to Apache - DealBook Blog - NYTimes.com
    8:50 a.m. | Updated The New York Times’s Michael J. de la Merced has more here.

    BP is in talks to sell assets, including stakes in its Alaska operations, to Apache for about $10 billion, a person briefed on the matter told DealBook on Sunday.

    Should a deal be reached — one isn’t expected immediately, and talks are continuing and may not result in a transaction, this person cautioned — it would help provide BP with additional funds to pay for cleaning up the immense gulf oil spill.

    News of BP’s talks with Apache was first reported by The Sunday Times of London.

    – Michael J. de la Merced
    “the misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all” -- Joan Robinson

    Comment


    • #3
      Damn it!!! I was thinking about buying BP at $30 a share.

      The story of my life, a day late and a dollar short.
      "Only Nixon can go to China." -- Old Vulcan proverb.

      Comment


      • #4
        I've got a feeling that you can still buy in at a pretty cheap price, especially if the buyout actually happens.
        Meddle not in the affairs of dragons, for you are crunchy and taste good with ketchup.

        Abusing Yellow is meant to be a labor of love, not something you sell to the highest bidder.

        Comment


        • #5
          *** NOT a stock tip ***


          BP has some strong fundamentals but it is a bit too risky in both the short and mid terms, You can find a better ROE elsewhere.
          “the misery of being exploited by capitalists is nothing compared to the misery of not being exploited at all” -- Joan Robinson

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