ExxonMobil To Buy Gas Producer XTO For $41B

Law360, New York (December 14, 2009, 1:41 PM EST) -- ExxonMobil Corp. has agreed to buy oil and gas producer XTO Energy Inc. in a $41 billion all-stock deal aimed at improving the oil giant's ability to develop unconventional energy resources.

The companies said in a joint statement Monday that ExxonMobil will issue 0.7098 shares of its stock for each common share of XTO, representing a 25 percent premium to XTO stockholders.

The $41 billion value of the deal, reportedly the largest in years in the energy sector, includes $10 billion of existing XTO debt, the...
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