bg takeover on the cards

What a pearler!
Now I know this aint the first time that this has been the subject of speculation for a TO, however, this time could be different.
Cheers,
SF
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FT

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This is London


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Upstream Online

Takeover talk boosts BG

UK-based BG Group's share price surged today on renewed speculation that the gas giant was the target of a takeover bid.

Upstream staff 19 March 2010 07:09 GMT

BG, which has stakes in several massive oil finds made in recent years off Brazil and is positioning itself as a major player in supplying liquefied natural gas to Asian markets, saw its share price surge by 1.5% to 11.91 ($18.18) on Friday.

A report in the Financial Times said it was not clear who could afford to swallow the company, given the premium on its upside potential.

Analysts told the paper Australian giant BHP Billiton had been named as a contender, as well as state-run oil players from India and China.

Asian players such as Indias Oil & Natural Gas Corporation and Chinas PetroChina have been competing to extend their reach beyond their home regions as they seek to satisfy burgeoning domestic demand.

BG is particularly well placed to benefit from moves to turn Australian coalbed methane reserves into liquefied natural gas to supply markets in south-east Asia through its Queensland Curtis LNG project.

The company is also partnering with Brazilian deep-water specialist Petrobras to tap the country's pre-salt play.

The FT added that interest in the company was being driven by comments attributed to BG chief executive Frank Chapman that he was considering life after BG.