UK-based gas company BG Group has seen its share price rise over 3% to hit an all-time as a result of industry rumors that Royal Dutch Shell and Petrobras may be looking to acquire the firm, reported Reuters.
Indeed, BG Group’s shares reportedly hit the top of the FTSE 100 leader board as traders speculated about a renewed round of bidding talks from Shell and Petrobras. However, Shell and BG Group have remained tight-lipped about the latest round of bids, revealed Reuters.
Another possible reason for the share price increase, according to traders, is reports of stakebuilding. Rumors are afloat that a US investment bank is involved in a stakebuild, Reuters quoted a trader as saying.
Last week, BG Group shares shot up as a result of rumors of a possible joint bid from Shell and Gazprom, with Petrobras also viewed as a potential participant.