Total CEO denies plans to take over BP
Jul 05, 2010 (M&A Navigator via COMTEX) --
(C)2010 M&A Navigator
Christophe de Margerie, chief executive of France's oil and gas major
Total (EPA:FP), has ruled out plans to buy UK peer BP (LON:BP) during
the economic forum in Aix-en-Provence, southern France.
Currently, BP's market capitalisation is smaller than the one of Total
because of the oil spill in the Gulf of Mexico. The British group is
believed to be a potential takeover target for sector players Shell
(LON:RDSA) and ExxonMobil (NYSE:XOM).
Country: UK;
Sector: Petroleum/Natural Gas/Coal
Target: BP Plc
Buyer: Total SA
Type: Corporate acquisition
Status: Denied
((Distributed via M2 Communications - http://www.m2.com))
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