Exxon Mobil (NYSE: XOM) may make an offer to buy BP plc (NYSE: BP). The shares in the UK company are up 7% on the rumor.
BP may be in the process of selling some of its Prudhoe Bay properties to raise money, but there are still analysts that believe BP will file for bankruptcy if the flow of crude into the Gulf cannot be stanched.
Exxon would have to take on BP’s huge liabilities to make a purchase, which makes the rumor unlikely.
Douglas A. McIntyre
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
