Is a Big Oil Megamerger Brewing? Exxon, Chevron, and Others Are Eyeing This Oil Stock.
A consolidation wave has washed over the oil patch in recent years. ExxonMobil (NYSE: XOM) kicked things off with its $64.5 billion deal for Pioneer Natural Resources in late 2023. Chevron (NYSE: CVX) followed with a megadeal of its own, agreeing to buy Hess for $60 billion in a deal it hopes to close this summer. Several other oil companies have joined the merger wave by making smaller deals.After a calm in recent months, a potentially massive deal could be brewing. Several oil companies have run the numbers on buying BP (NYSE: BP). Here's why it has become a takeover target and what big oil companies might buy the oil stock.Image source: Getty Images.Continue reading
A consolidation wave has washed over the oil patch in recent years. ExxonMobil (NYSE: XOM) kicked things off with its $64.5 billion deal for Pioneer Natural Resources in late 2023. Chevron (NYSE: CVX) followed with a megadeal of its own, agreeing to buy Hess for $60 billion in a deal it hopes to close this summer. Several other oil companies have joined the merger wave by making smaller deals.
After a calm in recent months, a potentially massive deal could be brewing. Several oil companies have run the numbers on buying BP (NYSE: BP). Here's why it has become a takeover target and what big oil companies might buy the oil stock.
Image source: Getty Images.
