Shell is holding early-stage talks to acquire rival BP in what would be the largest oil deal in a generation, people familiar with the matter said.Talks between company representatives are active, the people said,

Shell has denied recent reports in the Wall Street Journal suggesting that the oil giant is in preliminary talks to acquire its British rival, bp, reported Reuters. A Shell spokesperson stated: "No talks are taking place.

Shell said “no talks are taking place” for a potential megamerger with rival BP that would cost more than $80 billion and represent the biggest energy deal of the century. The denial comes on the heels of the Wall Street Journal reporting June 25 that Shell is in early talks to acquire BP in a much-rumored deal.