Exxon Mobil will buy XTO Energy in an all-stock deal worth $31 billion as the Irving, Texas-based oil giant moves aggressively to capitalize on the growing supply of natural gas at home. Also, Simon Property Group, the largest shopping mall owner in the United States, has agreed to buy Prime Outlets in a deal worth $2.3 billion.
December 17, 2009 at 12:00 AM
1 minute read
Exxon Mobil will buy XTO Energy in an all-stock deal worth $31 billion as the Irving, Texas-based oil giant moves aggressively to capitalize on the growing supply of natural gas at home.
According to the Associated Press, the acquisition by Exxon, which is closely watched in the industry, could signal a new rush to own natural gas assets by major integrated producers, and perhaps the start of a significant consolidation in the energy industry.
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