FOX Business Network’s Charlie Gasparino reported Monday that BP plc (BP) has hired three banks, including Blackstone (BX) and Goldman Sachs (GS), to thwart a potential hostile takeover of the company.
Excerpts : Courtesy of Fox Business Network
“Three investment banks, from what I understand, they hired two of those. Blackstone – Tony James the number two at Blackstone is working directly with the bankers that are working with BP. Also, Goldman Sachs. Three banks are working with them. Everything is on the table from what I understand. This is not a situation where you don’t develop contingency plans, and the top contingency plan is clearly a potential hostile takeover. If the stock keeps falling, are they basically susceptible to a hostile takeover.”
“What is not off the table, according to my Wall Street sources, that they have to look at bankruptcy if this thing does not stop.”
