- Shell plc (SHEL, Financial) has officially denied any intention to acquire BP plc.
- The denial addresses market speculation and is issued under Rule 2.8 of the UK City Code on Takeovers and Mergers.
- Shell remains focused on delivering value with less emissions, without pursuing major acquisitions.
Shell plc (SHEL) has publicly clarified that it is not actively considering an acquisition of BP plc, following recent media speculation about a potential merger. The company stated categorically that it has not approached BP nor engaged in any discussions regarding a possible offer.
This announcement is made under Rule 2.8 of the UK City Code on Takeovers and Mergers, legally binding Shell to this position. However, the company reserves the right to make an offer under specific circumstances, such as with the agreement of BP's board, if a third party bids for BP, if BP announces specific regulatory events, or if there is a substantial change in circumstances as determined by the Takeover Panel.
Shell has reiterated its strategic focus on enhancing value while reducing emissions through disciplined performance and simplification, rather than pursuing major acquisitions. This strategic clarity provides reassurance to investors amid ongoing transformation pressures within the energy industry.
