Dollar General Replaces Cooper on S&P 500, BP Takeover Chatter: Merger and Acquisitions Recap
Dollar General Corporation (NYSE:DG) will replace Cooper Industries (NYSE:CBE) on the S&P 500 as of November 30th when the latter will be delisted because it has been purchased by the S&P 500 constituent Eaton Corporation (NYSE:ETN). It is anticipated that the acquisition should be finalized by the above date.
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There is suddenly a question in the oil industry — Is BP (NYSE:BP) now a takeover target? The giant company has now resolved its dispute with American authorities over the Deepwater Horizon oil spill, so a few observers think that now might be the time to examine such possibilities. However, the consensus remains that BP is just to large and to risky to acquire. Fadel Gheit, an energy equity analyst at Oppenheimer, says that, “Although anything is possible, BP is too big to merge.” Others say that specialization is paramount in these times and that BP would have to be broken up for a sale. Meanwhile, insiders at ExxonMobil have told Fortune that there has been zero talk of doing any kind of deal with BP.
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