Why BP Is Seen as a Potential Takeover Target: QuickTake

It’s been almost 25 years since BP Plc attempted to rebrand itself as “Beyond Petroleum” and adopt a more environmentally friendly image. But with a recent swing away from green energy toward its fossil fuel roots, “Back to Petroleum” might be a more appropriate tag line.

The shift comes as BP lags significantly behind its fellow oil and gas majors, due to a combination of corporate disasters, war, lackluster returns from its greener efforts and some bad luck. It could even be a takeover target, although rival Shell Plc has ruled itself out of the running for now.

Activist shareholder Elliott Investment ...