Shell Legally Bars BP Takeover Amid Rumors

Shell has formally denied media speculation about a potential takeover of BP, explicitly stating it has not approached or held talks with BP regarding an offer. The denial was issued under Rule 2.8 of the UK's Takeover Code, legally preventing Shell from making a bid for BP for at least six months unless conditions such as a third-party bid or BP's invitation occur. Shell's statement followed reports, including from The Wall Street Journal, suggesting early-stage talks—claims Shell has strongly refuted. The company emphasized its focus on operational performance and shareholder returns, not major acquisitions. BP continues to face strategic challenges and pressure from activist investors, fueling ongoing acquisition rumors. Shell's move aims to provide transparency and stability amid volatile market conditions.