The Exxon Mobil Corporation is an American oil and gas corporation will buy XTO Energy Inc in an all-stock transaction valued at about $30 billion. XTO Energy is a large supplier of natural gas. The deal represent Exxon, the world's largest publicly traded company, gains a major foothold into North America's newest energy discoveries.
The company bets on the growth of natural gas expanding its share of the world's largest energy market. On December 14th 2009, Exxon Mobil Corporation (NYSE: XOM) and XTO Energy Inc. announced today an all-stock transaction valued at $41 billion.
According to Yahoo News, "There will be more of these deals, and it will make the industry more resilient to volatility in natural gas prices," said Fadel Gheit, an analyst at Oppenheimer & Co.
The company bets on the growth of natural gas expanding its share of the world's largest energy market. On December 14th 2009, Exxon Mobil Corporation (NYSE: XOM) and XTO Energy Inc. announced today an all-stock transaction valued at $41 billion.
According to Yahoo News, "There will be more of these deals, and it will make the industry more resilient to volatility in natural gas prices," said Fadel Gheit, an analyst at Oppenheimer & Co.
"Natural gas is trading at historical lows. Exxon is making a bullish statement about natgas prospects, and if others agree, you could see more deals like this, but only time will tell," said Tom Schrader, managing director for U.S. Equity Trading at Stifel Nicolaus Capital Markets in Baltimore.
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