BURMAH OIL
£3oom Bid Declined (N.Z.P.A.-Reuter —Copyright) LONDON. July 4. The Burmah Oil Company has refused a £3oom takeover offer by Shell-8.P., the Shell - British Petroleum group. British Petroleum and Shell have withdrawn their proposal for a take-over. The Shell-BP bid was dropped two hours after Burmah's firm rejection had pushed Burmah shares up again,, on hopes that ShellBP would improve on the terms for its bid. Instead, the bid fizzled out almost before it had started. Burmah shares fell more than 19s to little more than 545, wiping nearly £5O million off their market value.
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Bibliographic details
Press, Volume CII, Issue 30177, 8 July 1963, Page 16
Word Count
96BURMAH OIL Press, Volume CII, Issue 30177, 8 July 1963, Page 16
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