Shares of BP plc (NYSE: BP) fell as much as 13% in Europe, their largest drop in 18 years, on news that the company’s “top kill” effort had failed and the relief wells to stop the worst oil spill in U.S. history may take three months to drill.
The company said the costs of the clean-up have hit $900 million. It faces higher clean-up costs and suits from state governments in the region.
Douglas A. McIntyre
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