Shell Is in Early Talks to Acquire Oil Rival BP, WSJ Reports

Royal Dutch Shell Plc is in early talks to acquire BP Plc, which is considering the approach carefully, the Wall Street Journal reported.

Talks between company representatives are active, but any terms of a potential deal couldn’t be learned and a transaction is far from certain, the newspaper reported, citing people familiar with the matter.

Shares of BP traded in New York jumped as much as 10% to $32.94.

BP is under intense pressure after years of under-performance and the intervention of aggressive activist shareholder Elliott Investment Management. Speculation has been growing that the London-based company would become a ...