Shell clarifies it has not made an offer for BP
Published by Alfred Hamer,
Editorial Assistant
Oilfield Technology,
In response to recent media speculation Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer.
This announcement is an announcement under rule 2.8 of the UK city code on takeovers and mergers.
Under Note 2 on Rule 2.8 of the Code, Shell reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:
- With the agreement of the board of BP.
- If a third party announces a firm intention to make an offer for BP.
- If BP announces a Rule 9 waiver (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code).
- If there has been a material change of circumstances (as determined by the Takeover Panel).
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Read the article online at: https://www.oilfieldtechnology.com/special-reports/27062025/shell-clarifies-it-has-not-made-an-offer-for-bp/
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