Natural gas producer
signed a definitive agreement to acquire privately held Hunt Petroleum for nearly $4.2 billion.
XTO will pay $2.6 billion in cash and 23.5 million shares valued at approximately $1.6 billion, or $67.50 each, for Hunt.
Shares of XTO were recently gaining 2.9% to $69.68.
This article was written by a staff member of TheStreet.com.