The Rising Influence of Rising Affluence

[DewDiligence]

XOM closed the XTO acquisition on 6/25/10; the deal was announced on 12/14/09 (#msg-44488104), so it took just over six months to close.

#msg-44715108 is a good background piece on the rationale for the deal.

XTO’s buyout consideration was 0% in cash and 100% in stock for the (unofficial) reasons cited in #msg-44568048. XOM issued 417M shares to XTO holders, a 9% expansion of XOM’s shares outstanding, giving XOM 5.16B diluted shares post-merger.

http://finance.yahoo.com/news/ExxonMobil-Announces-bw-530563847.html?x=0&.v=1 (XOM’s PR)
http://sec.gov/Archives/edgar/data/34088/000095010310001865/dp18258_8k.htm (8K SEC filing)

XOM is holding a CC dedicated to the XTO deal on 8-Jul-2010 at 11am ET. Inasmuch as the merger closed only a few days before the end of 2Q10, XTO’s operations will not meaningfully affect XOM until 3Q10.