BP shares jump 8% on report it is in early-stage talks to be acquired by Shell

Core Viewpoint - BP shares experienced a significant increase due to reports of early-stage acquisition talks with Shell, although a deal remains uncertain and discussions are progressing slowly [1][2]. Group 1: Company Developments - BP shares rose approximately 7% following the news of potential acquisition discussions with Shell [2]. - The current market valuation of BP is nearly $85 billion, indicating its substantial size within the oil industry [2]. Group 2: Industry Context - The ongoing talks between BP and Shell highlight the competitive landscape in the oil sector, where major players are exploring consolidation opportunities [1].