XTO Energy (XTO)

[MrBankRoll]

Exxon Mobil Corporation and XTO Energy Inc. Announce Agreement

Business Wire

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.

http://money.aol.com/rtn/pr/exxon-mobil-corporation-and-xto-energy-inc-announce-agreement/rfid280109265?channel=pf