BP Recently Considered as Takeover Target by Adnoc, Reuters Reports
-- British energy giant BP was recently eyed as a potential takeover target by Abu Dhabi National Oil Co., also known as Adnoc, Reuters reports citing unnamed sources.
-- However, the deliberations of the United Arab Emirates' state-owned company didn't advance beyond initial discussions, mainly due to BP not fitting its strategy, while political considerations also weighed on the decision, Reuters reports.
-- Adnoc also mulled buying a big stake in BP, which was one of many companies the Emirate giant looked at, Reuters reports.
-- BP declined to comment while Adnoc didn't immediately respond when contacted by Dow Jones Newswires.
Full story: https://tinyurl.com/vp23mmxb
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
April 12, 2024 02:47 ET (06:47 GMT)
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