Shell plc issued a public statement on June 26, 2025, addressing recent media speculation regarding a potential acquisition of BP plc, Shell reports.
The company clarified that it is not actively considering a takeover bid and has not initiated any discussions with BP regarding such a possibility.
The announcement, made under Rule 2.8 of the UK City Code on Takeovers and Mergers (the “Code”), serves as a formal declaration that Shell has no current intention to make an offer for BP. As a result, Shell is now subject to the restrictions outlined in Rule 2.8, which limit future takeover approaches under specific conditions.
The statement follows growing market and media speculation over a potential merger between the two major energy companies. Shell emphasized that no talks have taken place, nor has any approach been made to BP regarding a possible offer.
“We remain focused on delivering more value with less emissions through performance, discipline and simplification,” Shell said in its release.
However, in accordance with the Code, Shell reserved the right to revisit this position under certain circumstances. These include receiving an agreement from BP’s board, if a third party announces a firm intention to make an offer for BP, if BP pursues a Rule 9 waiver or reverse takeover, or if a material change in circumstances occurs, as determined by the UK Takeover Panel.
Shell reiterated that this statement is made to comply with regulatory disclosure obligations and that its website will host a copy of the announcement. The company noted that the website content is not incorporated into the official disclosure.
