Shell interest gives BP shares a boost

Shares in BP climbed to a six-month high today after it was reported by the  Daily Mail that rival Royal Dutch Shell considered a bid for the oil company during the height of last year’s Gulf of Mexico oil spill crisis.
 
According to the Mail, Shell decided not to make a prospective rescue offer at the time because it feared that BP's legal liabilities could seriously harm its prospects. "Sources close to the Anglo-Dutch giant", however, said that Shell were still interested in a merger with BP - providing other parties were involved.
 
News of Shell's interest drove BP shares up 22.45p to 488p in morning trading – approximately five per cent. It marked a 60 per cent recovery since the end of June when they hit a low of 296p.
 
Read a full report at the Guardian. ·