Saudi Aramco plans takeover of BP's Castrol

Saudi Aramco $2222 is in the early stages of planning to make an exciting bid for BP's lubricants division Castrol $BP. (-8,86 %) lubricants division. According to a source with insight into the situation, BP is reviewing all options for its Castrol business. This strategic review could potentially lead to a sale. Analyst Ashley Kelty estimates the value of the business at around 6 to 8 billion dollars. This could be a significant development in the oil and energy sector. BP has also set itself ambitious targets, with the company planning to sell $20 billion worth of assets by 2027. This should help to reduce capital expenditure and regain investor confidence. While talks between the two giants are still in their infancy, BP shares rose 1% to 412.15p, highlighting market interest in this potential takeover.

Disney lays off almost 6% of employees

In the USA, the Walt Disney Co. $DIS (-6,12 %)plans to lay off around 200 employees, which corresponds to almost 6% of the total workforce of ABC News Group and Disney Entertainment Networks. According to reports in the Wall Street Journal, an official announcement could be made to employees as early as Wednesday. Disney, like many companies in the entertainment sector, is facing a drastic decline in cable network viewership. In addition, the number of subscribers to the Disney+ streaming platform has steadily declined in recent quarters. This has led to Disney's shares falling by 4% over the last 12 months, while Netflix has seen an impressive increase of almost 60%. Despite the challenges, Disney has performed better than expected in recent reporting, even if the decline in Disney+ subscribers cannot be ignored. The developments show how dynamic and challenging the market for entertainment and media has become.

Sources:

https://finance.yahoo.com/news/saudi-aramco-exploring-initial-bid-134415735.html

https://finance.yahoo.com/news/disney-lay-off-nearly-6-133014116.html

In the latest news, BP ($BP. (-8,86 %) ) is causing a stir among investors. A group of 48 shareholders has called for any changes to the company's climate targets to be approved by investors. This follows reports that BP is planning to withdraw its targets for reducing hydrocarbon production by the end of the decade. 😲

Matt Crossman of Rathbones Investment Management emphasizes that shareholders' rights must be respected. Many investors have invested in BP because the company once positioned itself as a pioneer in the fight against the climate crisis.

In 2019, 99% of shareholders supported a resolution calling on BP to set out its strategy in line with the Paris climate goals. But now the target to reduce hydrocarbon production by 40 percent by 2030 could be lowered to 25 percent. What do you think? Is such a reversal of climate targets a step backwards for BP or a necessary adjustment? 💭

The BP share ($BP. (-8,86 %) ) is showing upward trends! 🚀 The reason for this is the rumor that the British oil company could sell its lubricants business, known under the Castrol brand, for up to 10 billion US dollars. This move could be a response to pressure from activist investor Paul Singer and his hedge fund Elliott Investment Management, which has already called for cost cuts and asset sales.

The sale could be officially announced at the Capital Markets Day on February 26. This may be BP's way of regaining investor confidence after a rather modest performance in recent years.

What do you think of this strategy? Is the sale of business units the right way to get the company back on track? 💭 And how do you see BP's future with regard to renewable energies? Let's discuss it!

$BP. (-8,86 %) Congratulations to all BP patience...the holding was worth it :)