A deal would be a landmark combination of two supermajor oil companies. Shell issued a formal stock exchange denial of takeover talks.

Shell has denied it is in talks to acquire rival BP after months of speculation about a deal that would combine the UK’s two biggest oil companies.

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.