Who Could Gobble Up a Hobbled BP?
For sale (maybe) — oil giant with world-class assets, unquantified liabilities and a reputation for major mishaps. That’s what BP (NYSE: BP – News) brings to the table as a merger target. The company, still worth about $120 billion, has been battered by fallout from the catastrophic oil spill in the Gulf of Mexico and analysts have started to speculate that the damage from the spill could end up making it impossible for BP to continue as a standalone company. More from MarketWatch.com: BP Testing Blow-Out Preventers at All Wells • Spill Could Mean Dark Times for Sunshine State Learning New Tricks the Hard Way “Given the collapse in the share price and the potential for it to fall further we expect that it could become a takeover target — particularly if its operating position in the U.S. becomes untenable,” said Dougie Youngson, a London-based analyst at Arbuthnot Securities. There are only a handful of companies that could entertain a merger with BP, and of course the company ha
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