London Evening Standard: Shell in the bid spotlight as oil price keeps climbing: “reports suggested top brass at scandal-struck Shell think a bid may be on its way from France's Total.” (ShellNews.net)
Market Report by Sarah Marks
16 August 04
OIL companies should be back on the march once again this week, as the price of crude raced to new record highs today.
But it was not just that familiar tale that will be sparking interest in the sector. Weekend reports suggested top brass at scandal-struck Shell think a bid may be on its way from France's Total.
Such a deal would be one of the few combinations of the major companies in the industry that would not evoke the ire of the competition authorities.
Depending on the price, of course, it would be something of a relief for investors who have seen the company's shares collapse from highs in 2001 of 637!^p to just 390Hp on Friday