Exxon has agreed to issue 0.7098 common shares for each common share of XTO. The deal represents a 25% premium to XTO stockholders. The transaction value includes $10 billion of existing XTO debt and is based on the closing share prices of Exxon and XTO on Friday.
XTO is one of the biggest producers of natural gas in the U.S. Exxon said the deal will "enhance
Shares of Exxon are slipping 1.1% to $72 in recent premarket trading.-- Reported by Jeanine Poggi in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.