Thread regarding BP PLC layoffs

https://www.shell.com/news-and-insights/newsroom/news-and-media-releases/2025/shell-plc-statement-re-bp-plc.html

Shell plc (“Shell”) statement re BP plc (“BP”)
26 Jun 2025
In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT IS AN ANNOUNCEMENT UNDER RULE 2.8 OF THE UK CITY CODE ON TAKEOVERS AND MERGERS (THE “CODE”)

26 June 2025

Shell plc (“Shell”) statement re BP plc (“BP”)
In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer.

This is a statement to which Rule 2.8 of the Code applies and accordingly Shell confirms it has no intention of making an offer for BP. As a result Shell will be bound by the restrictions set out in Rule 2.8 of the Code.

We remain focused on delivering more value with less emissions through performance, discipline and simplification.

Under Note 2 on Rule 2.8 of the Code, Shell reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

1. with the agreement of the board of BP;
2. if a third party announces a firm intention to make an offer for BP;
3. if BP announces a Rule 9 waiver (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); and
4. if there has been a material change of circumstances (as determined by the Takeover Panel).

The contents of this announcement will be available at www.shell.com.

Ban bid in place now for 6 months. False alarm at least for now… unless another bidder comes along …

https://uk.finance.yahoo.com/news/shell-says-not-considering-buying-063158443.html

@br how will the news come?

When the news comes, it won't come this way.

Don't stop believin'
Hold on to that feelin'
Streetlights, people

This would appear to now be the time to get this done for shell. The problem will be the gulf of America assets as theyll need to sell off a substantial amount to pass approvals. This could be done by selling nakika, the midstream assets, mad dog, atlantis, ursa and the tie backs. That might net $30bn paying for half the overall purchase value.

Sounds almost like a pump ‘n dump scheme. Helge selling some shares on the way out the door?

@ak which would be ridiculous based on them selling the Permian a year after calling that asset a core business unit

I think they buy BPX/onshore assets, rumor has been around for awhile Shell wants to get back into US onshore

Given the continued speculation is this a case of no smoke without fire?

of course shell denied, no kidding.

Shell has already denied the WSJ reports per Bloomberg. Who knows

For what it’s worth, Shell have denied any talks are taking place. Would they just refuse to comment if there was any truth to it?

I don’t know why, but this time it “feels” real. Only time will tell.

Another resurgence of this narrative. The only question is have we progressed to the Boston stage? Is this now more than a feeling?

What makes this time any different than every other time this is in the news?

Ugh if it goes through I hope the layoff package is as good as what bp is giving out now. Just have to wait and see.

I think it's more than a rumor now. But, over the past years, there has always been this rumor. Hang on tight everyone.