8-KOther Events

EXXON MOBIL CORP 8-K Report, Corporate Update (Oct 20, 2023)

Filed October 20, 2023For Securities:XOM

Summary

Exxon Mobil Corporation (XOM) filed an 8-K on October 20, 2023, providing details in connection with the special meeting of Denbury, Inc. stockholders on October 31, 2023, to vote on XOM's acquisition of Denbury. The filing confirms the expected transaction fee for financial advisors J.P. Morgan Securities LLC and TPH&Co. to be approximately $42.7 million each, which includes an opinion fee payable upon delivery of their fairness opinions to Denbury's board. PJT Partners is also entitled to a $3 million fee from Denbury for its opinion. The report emphasizes that this communication is not a substitute for the definitive proxy statement/prospectus filed with the SEC. Investors and security holders are strongly urged to read these documents, which contain important information about the proposed transaction. ExxonMobil has filed a registration statement (Form S-4) for the shares to be issued in the acquisition, which was declared effective on September 29, 2023, and the definitive proxy statement/prospectus was mailed to Denbury stockholders on the same date.

Key Highlights

  • 1ExxonMobil (XOM) provided an update on the proposed acquisition of Denbury, Inc., ahead of Denbury's stockholder meeting on October 31, 2023.
  • 2Estimated transaction fees for J.P. Morgan Securities LLC and TPH&Co. are approximately $42.7 million each.
  • 3PJT Partners is set to receive a $3 million fee from Denbury for its advisory services.
  • 4The definitive proxy statement/prospectus regarding the acquisition was filed with the SEC and mailed to Denbury stockholders on September 29, 2023.
  • 5Investors are strongly advised to review the SEC filings for comprehensive details on the transaction.
  • 6XOM's Form S-4 registration statement for the shares to be issued in the acquisition was declared effective by the SEC on September 29, 2023.

Frequently Asked Questions

This 8-K filing provides disclosure and updates in connection with the special meeting of Denbury, Inc. stockholders to vote on Exxon Mobil Corporation's proposed acquisition of Denbury. It details financial advisor fees and directs investors to crucial SEC filings for more information.

J.P. Morgan Securities LLC and TPH&Co. are each expected to receive approximately $42.7 million in transaction fees. PJT Partners is entitled to a $3 million fee from Denbury.

Investors and security holders are urged to read the definitive proxy statement/prospectus filed with the SEC, along with the registration statement (Form S-4) and any other relevant SEC filings. These documents are available on the SEC's website and ExxonMobil's investor relations website.

The special meeting of Denbury, Inc. stockholders to vote on the acquisition by Exxon Mobil Corporation is scheduled for October 31, 2023.