Summary
Exxon Mobil Corporation (XOM) has officially completed its acquisition of XTO Energy Inc. on June 25, 2010. This significant transaction, previously announced in December 2009, was finalized through a merger where XTO Energy now operates as a wholly-owned subsidiary of ExxonMobil. Under the terms of the merger, XTO Energy shareholders received 0.7098 shares of ExxonMobil common stock for each share of XTO Energy common stock they held. This exchange will result in approximately 416.5 million new ExxonMobil shares being issued, plus an additional 12.6 million shares reserved for XTO Energy employee stock options. Investors should note that XTO Energy's financial results will only be incorporated into ExxonMobil's reporting for the final five days of the second quarter of 2010.
Key Highlights
- 1ExxonMobil has successfully completed the acquisition of XTO Energy Inc., a major natural gas producer.
- 2The acquisition was finalized through a merger, with XTO Energy becoming a wholly-owned subsidiary of ExxonMobil.
- 3XTO Energy shareholders will receive 0.7098 shares of ExxonMobil common stock per XTO Energy share.
- 4Approximately 416.5 million ExxonMobil shares will be issued to former XTO Energy stockholders.
- 5An additional 12.6 million ExxonMobil shares are reserved for outstanding XTO Energy employee stock options.
- 6XTO Energy's financial results will be included in ExxonMobil's reporting from June 25, 2010, onwards.
- 7The merger agreement received approval from XTO Energy stockholders on June 25, 2010.