http://www.bloomberg.com/news/2012-11-19/bp-seen-takeover-target-as-valuation-sinks-on-settlement-energy.html
The onetime Mississippian and current chief executive officer has sold more than $50 billion of assets to pay the costs of the worst U.S. oil spill in history in 2010. Rescued from the brink of collapse, Europes second-largest oil company is now seen as vulnerable to a takeover.
BP is the cheapest of the worlds five biggest non-state oil companies by market value relative to reserves, earnings and output. As a result it may become a target, according to people familiar with the strategic thinking of the London-based company and its potential acquirers.
Dudleys boldest move as the first American in charge of the 103-year-old British company was last months exit from a turbulent Russian venture in exchange for a 20 percent stake in state oil company OAO Rosneft (ROSN) and $12.3 billion in cash.
The deal solved one of BPs two biggest challenges. The other, litigation in the U.S. over fines from the spill, came closer to a resolution last week with a $4.5 billion criminal settlement. The civil claims may vanish in a settlement before the trial set to start Feb. 25.