Quote:
Originally Posted by CaptainCrunch
Remember that BP has thousands of successful wells and properties around the globe. A take over with the intent of grabbing those properties would be an incentive for shareholders. Then you negotiate a cleanup fee with the government that will basically work out to cents on the dollar, with the threat of any cleanup money being tied up in court for decades.
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Oh I know. Not underestimating the size of BP, just . . . Uncertainty is the biggest concern and people don't make moves that big with uncertainties that HUGE.
The market has essentially cut 63 billion off of BP's market cap since this started (although who knows how much is gone due to the market tanking the last few weeks anyway).
$63 Billion that's astonishing. I can't see anywhere that it's down 30% (as someone above said) in pre-market trading. That'd be another $40 billion, totalling $103 billion. Just gone... That would be the market cap of Suncor twice. Could you imagine exxon saying "hmmm, let's take a run at suncore (post petro merger) and encana maybe in a week they'll be worthless. But... Could be fun.
I think it's got a ways to go before anyone would consider taking them over. Plus there might be some foreign ownership rule much like Petro Canada had... So the British Government might have to approve it.
I don't know... Just too much going on to see it happening.