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The fossil fuel fanfiction nobody asked for is back: Shell might finally devour BP — in what could become the biggest unholy alliance since, well… Shell and apartheid South Africa.
That’s right: after years of flirting and fumbling, the dirtiest merger fantasy in Big Oil is once again swirling through boardrooms and Bloomberg alerts.
Why now? Because activist hedge fund Elliott Management just bought a nearly 5% stake in BP and immediately demanded a boardroom bloodletting. Cue another round of speculation that Shell, Chevron, ADNOC, or some other oil-drunk conglomerate might swoop in and “rescue” BP from its decade-long identity crisis.