MARKET TALK: Exxon Mobil, BP Could Consider A BP Bid- JPMorgan

29th Jun 2010 10:17

0917 GMT [Dow Jones] Exxon Mobil (XOM) and Royal Dutch Shell (RDSB.LN) could consider a bid for BP (BP.LN) says JPMorgan Cazenove. They have similar business models and global asset structures and would face the lowest political risk in a potential combination with BP. In particular the size and strength of Exxon Mobil's balance sheet would enable it to sweeten any offer with a significant cash component and it has already proven its ability to integrate a large transaction successfully. JPMorgan questions why the market has not factored in the possibility. JPMorgan says markets are too focused on downside risk to BP from the leak. BP rated overweight. Shares -1.6% at 303p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 29, 2010 05:17 ET (09:17 GMT)