As BP gets close to finally sealing the rogue well in the Gulf of Mexico, there are rumours that it could be taken over by cash-rich oil firms.
Since the explosion in April, BP’s market value has dropped through the floor and its clean-up bill has hit US$8bn. Because of this, it has been seen as a ‘vulnerable’ takeover.
However, in order for any companies to make a bid the leak would have to be properly closed off.
There have been rumours that the US firm ExxonMobil has been in talks with Barack Obama about buying the petroleum company.
So far it seems as though the US President has not made any objections in relation to the takeover, yet industry experts believe it could cause more job losses at a time when unemployment in the US is high.
BP says it hopes to seal the leak by the middle of this month.
ACQ Magazine