BP Shares Surge on WSJ Report of Takeover Talks With Shell

BP Plc shares jumped as much as 10% in New York after the Wall Street Journal reported that Royal Dutch Shell Plc is in early-stage talks to acquire its London-based rival.

Discussions between company representatives are active, but any terms of a potential deal couldn’t be learned and a transaction is far from certain, the newspaper reported, citing people familiar with the matter.