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Appetite For Energy Mergers Target Exxon And BP

Friday 10th of April 2015 09:34:18 AM



The appetite for takeover and mergers in the energy sector has targeted other companies such as Exxon Mobil Corp and BP Plc to contemplate deals, perhaps even with each other.

Now that Shell has made its move on BG, speculation has arisen of a Exxon combination, which would increase the appeal of big mergers that could yield massive cost savings.

Following the BP spill in 2010, the company has largely put behind it a legal morass and remains the cheapest major producers worth $US124 billion.

There are other targets for Exxon and BP that have gotten cheaper over the months, but when the market boom kicked off in the late 1990s BP announced its plans to buy Amoco Corp, with Exxon and Chevron Corp also making deals at the time. If prices remain at the current state, history may repeat itself.

BP on the other hand, is likely to sell itself because of its lacking profile. However, potential targets will probably ask for bids based on a higher price of oil, which could make it harder to get deals done at valuations that are still attractive to buyers.

With Exxon being one of the top oil producers it will look at setting its sights on a larger deal in the energy sector.

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