BP Walked Away From a Potential $4.5 Billion Bet on Devon Energy's Eagle Ford Shale. Here's What It Means for BP and DVN Stock.
It looked like a great fit... until it wasn't.
Overview
Energy investors were abuzz with this week's news that activist investors in Devon Energy (NYSE: DVN) might push the company to sell off some of its assets, or even the entire company.
That buzz got even louder when BP (NYSE: BP) was rumored to be a potential buyer for one of Devon's shale assets.
Details
But today, in a move that sent Devon's shares downward, Reuters reported that BP apparently walked away from the deal. Here's what investors need to know.
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.