BP shares jump 7% on report it is in early-stage talks to be acquired by Shell

The BP logo is displayed outside a petrol station that also offers electric vehicle recharging, on Feb. 27, 2025, in Somerset, England.

Anna Barclay | Getty Images News | Getty Images

BP shares jumped Wednesday on a report that the oil major is in early-stage talks to be acquired by Shell.

People familiar with the matter told The Wall Street Journal that talks between BP and Shell are active but a deal is far from certain. The talks are progressing slowly, one person told the Journal.

BP shares were last up about 7%. The British oil major is currently valued at nearly $85 billion.

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