As BP continues to fail to plug the oil spill in the US, its share price continues to fall. It has lost approximately 30% of its value in 6 weeks.
Eric Holder, the US Attorney-General, has announced that there will be a criminal and civil investigation to be conducted by the FBI and other federal agencies.
It is likely that if/as the share price continues to fall, BP will become a takeover target. Cynics are also suggesting that its US operations, despite (or maybe because of?) a very publicly hostile US administration, will become US owned.
As the old saying goes, never miss an opportunity to use a crisis to your own ends!
Unfortunately our pensions go with them. Most pension funds considered BP and the like to be a safe company until now.
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