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Shell said that it has “no intention” of making an offer for rival BP following months of speculation about a possible landmark tie-up between the UK’s two largest oil companies.
In a statement on Thursday, Shell said it did not intend to make an offer but reserved the right to do so in the event BP received a bid from another party.
Shell on Wednesday denied it was in talks to acquire BP after a report by the Wall Street Journal that the two companies were in early stage negotiations about a deal to create a global energy group worth more than £200bn.
Shell added on Thursday that it “has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer”.
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