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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Jacob Snyder who wrote (133522)6/2/2010 7:28:52 AM
From: w0z  Read Replies (2) of 206178
 
> It'll keep me occupied, while I wait for my BP stock to go up.

Excerpted from "BP at Risk as Share Plunge Fuels Takeover Speculation"

[url]http://www.bloomberg.com/apps/news?pid=20601087&sid=allNegynfe1E&pos=1[/url]

“We’re getting into share price territory where analysts speculate about takeover possibilities, because the loss of market value is much greater than the estimated ‘worst case’ costs,” said Ivor Pether, who helps manage $9.2 billion at Royal London Asset Management, including BP shares. “But there aren’t any buyers at this point because the near-term uncertainty is so high.”

Debt Ratio

Hayward reduced BP’s net debt ratio to 19 percent in the first quarter from 23 percent a year earlier, giving him greater ability to meet cleanup costs and related liabilities. The company has an AA credit rating from Standard & Poor’s and made a record $6 billion profit in the first quarter on $73 billion of revenue.

“The liability could be tens of billions of dollars, but I do think BP has the balance sheet capacity to be able to handle a hit like that,” said Jason Gammel, an analyst at Macquarie Securities USA Inc. in New York. “It’s too early to say it’s a takeover candidate because no one wants to own an unquantifiable liability.”
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