With all the news swirling about BP what are your thoughts? What is the likelihood we merge or get taken over by someone else? It seems like a real reality to be considered.
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@br+1jhzjvh08 probably worse in my book! One of the few people who could have done something before the disaster unfolded..
@bb+1jhzjvh08 I agree that Bob Dudley was the last decent CEO we had, but I was disappointed in him when he was interviewed on US tv saying that neither he nor the Board knew anything abiut BL's shenanigans.
BP stands for Broken Promises and is a case study in what not to do as a company. Their reliance on DEI candidates and McKinsey has destroyed more economic value than the GDP of most third world countries. They have no concept of discipline or risk management and turn blind eyes to unethical and immoral acts from the top down. I remember a few years ago where the execs were using this work email addresses to sign up for adult dating sites in search of affairs. They hide their execs overseas when the heat is on, but there are horrible managers and terrible people. Gone re the days of Bob Dudley, who led with honor and respect. He was the last adult in the room, along with Dr. Gilvary. Perhaps Ineos should buy them and restore the glory.
BP should be broken up and Assets sold individually to companies that make sense. GoM Assets should be sold to Shell since they already have a big presences in the Gulf. BPX Assets are cr-ppy but somebody will buy them. Middle East Assets go to ADNOC. All the renewable stuff should go to Equinor or somebody that has the same vision. I don't know who would want those 100+ year old refineries that are a liability with refining margins so low. North Sea Assets should go to some independent that can make money without the large overhead.
Very soon the Gelsenkirchen refinery will either be shutdown or sold as bp is currently moving high potential staff from the refinery. That won’t leave much refining. Better for a takeover. bp is worth more if broken up!
At the corporate level the assets are a big mixed bag. A new chairman, board and then CEO in that order would be the smart move for the company. Adnoc / XRG has just brought Covestro, this will occupy them. BP is too big for a cash buyer.. but perhaps an all share deal with one of the us super majors.. but in an energy anxious world I think this would be too political. For the UK loosing bg was a mistake.. loosing BP would leave the UK exposed without pseudo NOC..
@a6+1jhzjvh08 agreed, some decent assets within the portfolio. It would be quite ironic after all those M&A transaction bp did over the years it might be time it will be M&A'd
Maybe BP is about to be divided into two businesses. ADNOC would buy the Upstream section?
@a9+1jhzjvh08 They apparently considered it early 2023, but felt it wasn't a good fit.
ADNOC
BP is worth more than it’s stock value indicates. So absolutely, multiple people/investors/competitors are looking for a way to extract that value from the company. Merger, acquisition, take private, sell off pieces … all of those are on the table and being looked at.
No one would buy it. Shell likely not as US would call foul on GOM production and infrastructure. So they’d have to sell bits of that. Chevron and Exxon can’t see it. Maybe a more fundamental tie up with equinor.
Unlikely. Why do people post about takeovers every two days??