Gulf Keystone Exec: Exxon (XOM) Takeover Rumors are 'Stupid' and Have 'No Base'
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Gulf Keystone, a U.K.-based oil and gas exploration company, said rumors it has been approached by Exxon Mobil (NYSE: XOM) with a takeover bid are false.
In a statement, Dow Jones quotes one Gulf Keystone executive as saying "The Independent article is stupid. The Independent's article has no base. If there was a base to what the paper published we would have had to announce it. If we were having discussions to sell at £7 a share, we would have been legally announcing that."
Rumors suggest the bid for Gulf Keystone could be at about $10 billion.
Shares of Gulf Keystone, which trade under the ticker "GKP" in London, are coming off intraday highs, now up just 13 percent Monday.
In a statement, Dow Jones quotes one Gulf Keystone executive as saying "The Independent article is stupid. The Independent's article has no base. If there was a base to what the paper published we would have had to announce it. If we were having discussions to sell at £7 a share, we would have been legally announcing that."
Rumors suggest the bid for Gulf Keystone could be at about $10 billion.
Shares of Gulf Keystone, which trade under the ticker "GKP" in London, are coming off intraday highs, now up just 13 percent Monday.
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