BP is considered to be a national treasure of England. No way the government will permit it to be bought. No reason for it to sell. Many, many retirees in England depend on BP's dividends, and it is going to remain a British domiciled company. I like it the way it is.
I have said for the last few years to watch the steps from BP and see if they go on a divestment binge. They have done that and continue to do so. Is it because they need the money for litigation? Nope, that has pretty much been taken of. Are they reducing risk? Nope, BP is in the wrong business if it wants to reduce risk! So, why are they continuing to divest? Age of equipment? To some degree yes. They are divesting some older upstream assets. What many shareholders should concern them with is that Dudley was tutored under the Larry Fuller regime under the former Amoco system. What did Fuller do as he got closer to retirement? Well he did some window dressing over the years and then divested Amoco, much like Noto did in Mobil, same holds true for Arco. In the meantime, BP is getting leaner and they are getting their hands around it and managing the assets better. So, one could argue the regulators wouldn't let it happen, but it already is happening. Do you think the regulators in Europe and the US are happy with the leadership at BP? What kind of reputation do they have? Do I have to answer that? So, as Dudley performs more window dressing and BP distances itself from the gulf and Total and Chevron have their issues, some of the gulf situation begins to fade. So who can buy BP? One company can buy them today, but it's all about timing. If and when that occurs like assets can easily be divested in like territories to resolve any issues with competition. How much attention did the regulators give to the airline industry consolidation? Zero! Wouldn't you want to bring ARCO and Amoco back into a US owned company? Yeah, it would be one hell of a large organization, but it would be one way of moving closer to lower energy prices and a sustained supply. One company continues to pour out 10-11 billion in profits each quarter. What are they doing with the money? Saving up for the elephant hunt that is coming!
Only AAPL has enough cash to buy BP. And after they pay the divi... AAPL won't have enough either.
BP stock is better off alone. Once the litigation is behind... the stock is worth $65 per share.
Just wait it out, no better place to be with this market due for a correction.