$4B ExxonMobil, Kosmos Deal Scuttled

Law360, New York (August 18, 2010, 5:21 PM EDT) -- Exxon Mobil Corp.'s proposed $4 billion purchase of Kosmos Energy LLC's stake in an oil field off the coast of Ghana is off the table in the wake of objections from the West African nation's government.

In a statement released Wednesday, the U.S.-based oil explorer said that the agreement with ExxonMobil related to the acquisition of its 23.5 percent stake in the offshore Jubilee oil field had been terminated.

After nixing the deal, Kosmos — an independent oil and gas company that focuses on West Africa...
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