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Oil giant BP quietly steps out of the takeover spotlight
CNBCยท2025-09-25 23:10

Core Viewpoint - BP has seen a significant increase in its share price, rising over 32% since early April, moving away from earlier takeover speculation [1][2]. Group 1: Share Price Performance - BP's shares have outperformed many U.S. and European rivals, indicating a positive market sentiment [1]. - The company's stock performance marks a stark contrast to earlier in the year when it was a prime takeover candidate [2]. Group 2: Factors Contributing to Improved Sentiment - The positive sentiment is attributed to BP's strategic reset, leadership changes, cost-cutting progress, and recent oil discoveries [2]. - The selection of a new chair with experience in successful turnarounds has been identified as a recent catalyst for the improved share performance [4]. Group 3: Takeover Speculation - Earlier in the year, BP was the subject of intense takeover speculation involving major companies like Shell, ADNOC, Exxon Mobil, and Chevron [2]. - Shell has denied any intentions to acquire BP, stating it had "no intention" of making a blockbuster offer [3].