Abu Dhabi's Adnoc Contemplated Bid for BP, But Decides Against It
Friday, 12 April 2024, 11:14
Abu Dhabi State Oil Company's Potential Bid for BP Revealed
Abu Dhabi's state-owned oil company, Adnoc, recently explored the possibility of bidding for BP, revealing the impact of low share values in London on UK firms. After considering options like acquisition and stake purchase, Adnoc ultimately decided against pursuing a deal with BP.
Key Takeaways:
- Foreign Interest: Adnoc's interest in BP demonstrates the appeal of UK firms to foreign buyers due to depressed share prices.
- Exploration and Decision: Adnoc explored the idea of acquiring BP, but after discussions, deemed it unsuitable and opted out.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.