Exxon Mobil XOM to buy XTO Energy Inc.

Today, Exxon Mobile Corporation (XOM) has come out announced an agreement to acquire XTO Energy Inc (XTO) in an all stock deal for $41 billion.

From the Exxon Mobil Press Release:

Exxon Mobil Corporation (NYSE: XOM) and XTO Energy Inc. announced today an all-stock transaction valued at $41 billion. The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources.

Under the terms of the agreement, approved by the boards of directors of both companies, ExxonMobil has agreed to issue 0.7098 common shares for each common share of XTO. This represents a 25 percent premium to XTO stockholders. The transaction value includes $10 billion of existing XTO debt and is based on the closing share prices of ExxonMobil and XTO on December 11, 2009. Full Article

XTO Energy Inc Operates in the following shale plays in the USA


Haynesville shale

Marcellus shale

Bakken shale

Fayetteville shale

Woodford shale


Who's the next takeout candidate?

Chesapeake Energy Corporation (CHK)
Devon Energy Corporation (DVN)
EOG Resources, Inc. (EOG)
Continental Resources Inc. (CLR)
Brigham Exploration Co. (BEXP)
Southwestern Energy Co. (SWN)
Forest Oil Corp. (FST)
Petrohawk Energy Corporation (HK)


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