Shell And BP Can't Stand Being Small -- Now They're Thinking Of Merging

Shell considered a takeover of BP during the Gulf of Mexico oil spill crisis and may still be thinking about a merger with their rival, according to the Daily Mail.

The original deal was nixed by Shell themselves, who thought legal issues around the oil spill could be a threat to future profits.

The future of a Shell offer for BP remains in doubt, and the Daily Mail reports that Shell would only step in if another firm tabled a bid for BP.

The combined company would have a market cap of nearly $350 billion (that’s $25 billion less than Exxon Mobil).

BP shares are up over 5% in London on the news, so watch for a similar move in the U.S. ADR today.

Click here for a former BP exec’s guide to peak oil >


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