Reports have emerged that the world's largest energy corporation, Shell, is in early negotiations to acquire competitor BP.
The Wall Street Journal (WSJ) reported on the 25th, citing sources familiar with the matter, that the two corporations are in negotiations. The sources noted that BP is carefully reviewing Shell's acquisition proposal. Both Shell and BP are multinational corporations headquartered in the United Kingdom.
If the merger and acquisition of the two corporations succeeds, it would become the largest merger in the energy industry since the merger of American oil giants Exxon and Mobil in 1998, according to WSJ.
On this day, Shell's market capitalization was approximately $208 billion. Excluding state-owned oil corporations, it is the third largest after ExxonMobil ($469.8 billion) and Chevron ($249.1 billion). BP's market capitalization is $84 billion.