Shell To Acquire BP?

(From The Associated Press)

Shares in BP PLC have jumped after a report published Tuesday saying Royal Dutch Shell PLC is interested in a tie-up with the London-based company.

The Daily Mail, citing unidentified people close to the company, reports that Shell considered a takeover bid when shares in BP reached a nadir after the Gulf of Mexico oil spill. It adds that Netherlands-based Shell is still interested in a merger.

BP stock is up 4.8 percent at 4.88 pence ($7.63) in midmorning trade on the London Stock Exchange.

Shell could not immediately be reached by phone for comment on the report. London-based BP spokesman Mark Salt declined to comment.