BP shares jump after activist investor reportedly buys stake BP has seen its shares surge higher after an activist investor reportedly built up a stake in the oil giant.
“We do not think that Elliott has enough of a stake in BP yet to force a sale of the company; however, if there was a firm offer on the table for BP in the coming weeks, then the stock price could take off.”.
Kathleen Brooks, research director at XTB, said: “We don’t know how big its stake is, or exactly what its plans are for BP – will it try to break the company up, or could it try to force a sale of the company?.
Shares in the FTSE 100 firm jumped more than 7% at one stage in Monday morning trading, hitting their highest level for six months, following weekend reports that US firm Elliott Investment Management had snapped up a stake.
We do not think that Elliott has enough of a stake in BP yet to force a sale of the company.
