Bidness Etc discusses the prospects of BP being taken over by Royal Dutch Shell plc (ADR) owing to declining crude oil price
By: MICHEAL KAUFMAN
Published: Dec 2, 2014 at 2:21 pm EST
BP plc (ADR) (NYSE:BP) stock is up 2.6% on speculation that Royal Dutch Shell plc (ADR) (NYSE:RDS.A) might be interested in acquiring the British oil supermajor and thus move toward greater consolidation in the European energy sector. Around 7.9 million BP shares had been traded by 12:30 p.m. EST, which is 25% higher than the 30-day average daily trading volume of 6.32 million shares. Meanwhile, Royal Dutch Shell plc (ADR) (NYSE:RDS.B) stock price is also up more than 2.5% today.