FT Headline: Leveraged buy-out talk makes Keldaone of top gainers
By Neil Hume and Robert Orr
Published: May 19 2007 03:00 | Last updated: May 19 2007 03:00
EXTRACT FROM ARTICLE
The heavyweight oil sector provided the backbone for yesterday’s advance.
Royal Dutch Shell added 2.5 per cent to £19.06, taking its gains over the past two sessions to 6.2 per cent,as rumours of a merger with BP, up 2 per cent to 582p, continued to circulate the market.
“A common argument against consolidation is that the previous mega-mergers happened in 1998-99 when oil prices were low. However, the game has changed,in our view,” said Man Securities. “Rising costs, resource nationalism and increased competition are changing the industry landscape.” read more
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