‘Historically low valuations’ could open up BP to an M&A bid, says investor

‘Historically low valuations’ could open up BP to an M&A bid, says investor

“Historically low valuations of UK companies”, including oil giant BP (LON: BP), could make them “potentially-attractive takeover targets”, asset manager M&G has claimed.

In a research note, Michael Stiasny, head of UK equities at the investment firm, among the nation’s largest fund managers, says “we would not be shocked to see a big name in the oil and gas or mining sectors subject to a bid”.

London-listed energy giant BP was specifically singled out, with the supermajor “trading at a significant discount to their UK peers”.