Tuesday, 28 April 2015
The BP political conundrum
There are some brilliant comment columns in today's British newspapers on the UK government's decision to tell BP it's not too keen on the idea of a foreign bidder gobbling up the FTSE 100 oil producer.
Both Alistair Osborne of The Times and Nils Pratley of The Guardian make some good points in their respective opinion pieces on David Cameron's move whilst Alistair's colleagues suggest in a news article that Exxon Mobil is the most likely acquirer of BP.
However, for readers interested in this situation it's worth raking through the clips and casting your eyes over this excellent piece by written by Danny Fortson and Dominic O'Connell of The Sunday Times back in the summer of 2010. I remember the piece well as it was the splash (front page story) in the business section.
In the article - http://www.thesundaytimes.co.uk/sto/business/Companies/article343435.ece - the journalists reveal how Exxon had sought clearance from Washington to examine a takeover bid for BP and that Barack Obama's administration told the US oil giant it would "not stand" in the way of a deal that could value BP at up to £100 billion.