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Oil spill could make BP vulnerable

A report from the New York Times mentioned that the current massive oil leak in the Gulf of Mexico could make British energy giant BP vulnerable to a takeover. Royal Dutch Shell and Exxon Mobil are almost certainly running the numbers.

Since the April's incident, investors have wiped as much as $46 billion off the company’s market value. At $141 billion on Thursday, BP’s market capitalization is half of Exxon’s and less than the $165 billion value of Shell, which has traditionally traded at a discount to BP. A separate report from the Channel News Asia pointed out that BP's response costs linked to the huge Gulf of Mexico oil spill have risen to about US$930 million. This figure is expected to increase further.

Cost of cleanup, investors offloading BP's shares and antitrust implications to come is certainly going to take a big hit on BP financial status.

Good luck to BP.

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