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Posts on ‘June 2nd, 2010’

Gulf oil spill: Will Deepwater sink the 101-year-old BP?

guardian.co.uk Mud-smeared BP logos, boycotts, and an almost halved market value indicate deep disgust over the handling of the oil slick Andrew Clark in New York: Wednesday 2 June 2010 17.37 BST  At a BP service station in downtown Manhattan, the British company’s green and yellow logo has been defaced with huge brown smears of [...]

Will BP Be Acquired? A Few Things to Think About

THE WALL STREET JOURNAL. BLOGS JUNE 2, 2010 1.52 PM ET By Michael Corkery BP may be a bargain right now. It has lost 36% of its value, some $74.4 billion in all since the oil spill began on April 20. With a total market cap of $117 billion, BP is now near the bottom [...]

BP’s share price plunge spurs speculation over its future

Analysts question BP’s ability to pay dividends Terry Macalister Wednesday 2 June 2010 18.22 BST Tony Hayward at the BP command centre in Houston last week. Photograph: Reuters The survival of BP as an independent company was being openly discussed in the City today as the share price continued to tumble and its credit risk [...]

If you still hold BP stock, cut your losses and get out

BP has already far eclipsed Goldman Sachs as the most hated company in America. Seeking Alpha June 02, 2010 BP?s worst-case scenario from a few weeks ago is now a reality, and things are still going downhill fast. Let?s first review the latest facts, and then discuss their significance for BP shareholders. As of last [...]

Are BP’s days numbered?

BP’s stock price may make it takeover bait By LOREN STEFFY Copyright 2010 Houston Chronicle June 1, 2010, 10:39PM Are BP’s days numbered? That question bubbles up from beneath new cost estimates and growing market skepticism as the company’s latest attempt to cap a runaway well a mile below the Gulf of Mexico failed last [...]

BP?s Future at Risk as Share Plunge Fuels Takeover Speculation

By Brian Swint and Stanley Reed June 2 (Bloomberg) — BP Plc?s failure to stop an oil leak from spewing millions of gallons of crude into the Gulf of Mexico may leave the biggest oil and gas producer in the U.S. in a fight to stay independent. BP shares have plunged 34 percent since the [...]

FEARS FOR BP AFTER OIL LEAK AND DROP IN COMPANY SHARES

Wednesday June 2,2010 BP is facing growing speculation it will be vulnerable to a takeover bid as uncertainties and costs mount in the wake of the oil giant?s latest failure to halt the devastating oil spill in the Gulf of Mexico. The company?s shares plummeted by 64ľp to 430p, wiping Ł12billion off its market value, [...]

Oil spill sparks criminal probe

REUTERS La./LONDON (Reuters) – BP Plc faced a grim future on Tuesday as its failure to stop a Gulf of Mexico oil spill prompted a plunge in the energy giant’s shares and the Obama administration said it opened a criminal investigation. President Barack Obama, struggling to get on top of the worst oil spill in [...]