This is almost $100/bbl US ...... ExxonMobil Announces Acquisition of Denbury
XOM, DEN | 3 hours ago
Combined assets and capabilities further accelerate ExxonMobil’s Low Carbon Solutions business and create an even more compelling customer decarbonization proposition
Leading CCS network underpins ExxonMobil’s commitment to low carbon value chains including CCS, hydrogen, ammonia, biofuels, and direct air capture
Transaction synergies expected to enable more than 100 MTA of emissions reductions over time, driving strong growth and returns
Exxon Mobil Corporation (NYSE: XOM) today announced it has entered into a definitive agreement to acquire Denbury Inc. (NYSE: DEN), an experienced developer of carbon capture, utilization and storage (CCS) solutions and enhanced oil recovery. The acquisition is an all-stock transaction valued at $4.9 billion, or $89.45 per share based on ExxonMobil’s closing price on July 12, 2023. Under the terms of the agreement, Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share.
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