According to the Wall Street Journal, Saudi Aramco has reportedly approached Valvoline about a takeover. Even with talks in the early stages, the news has sent Valvoline stock surging upwards of 15%.

It is being said that the deal can make sense for Aramco due to the diversifying of their existing commodity-dominated business lines into value-added products. Despite some negative YTD performances, Wall Street is backing Valvoline. Especially now with news of a buyout possibility.

The news has yet to indicate whether or not Aramco will buy both segments of Valvoline which consist of retail services and global product businesses.

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