Truemors
is reporting from
Member
NP Rank:
NP Rank:
Exxon-XTO Energy Deal, Dubai Bailout Boost Dow Jones
Share:
by Jordan Yerman | December 14, 2009 at 07:21 am
393 views | 33 Recommendations | 6 comments
The Exxon-XTO Energy deal has boosted early performance of the Dow Jones Industrial Average during early trading. Exxon Mobile acquired XTO Energy in an all-stock $31 billion deal.
However, XTO--which is not a Dow component--jumped 16%, as the deal represents a 25% premium to its Friday closing price. A number of other energy stocks also moved higher as speculation rose about other potential acquisition candidates.
The bailout was the least expected of all options Dubai had on the table after requesting a standstill on $26 billion in Dubai World debt on November 25, alarming markets and shaking the image of the emirate as a regional business hub.
Advertisement
NowPublic on Facebook
What is NowPublic?
NowPublic lets people work together to cover news events around the world.
Related Stories
Recommendations (33)
Karl Gotthardt - albertacowpoke
Redwater, Alberta, Canada
snuffysmith
Washington D.C., D.C., United States
Sudha Krishna
Vancouver, Canada
Uwe Paschen
Narita, Chiba, Japan
Anonymous user
Most RecentMost Recommended Comments (6)
at 10:10 on December 14th, 2009
United States Natural Gas Explodes Higher On Exxon Optimismfrom Green Sheet
United States Natural Gas (UNG) is breaking above it's one month high in the pre-market, currently up over 4% at $9.96. Exxon's announced acquisition in XTO is surely a long-term vote of confidence in U.S. natural gas. Hopefully not too long-term, for the sake of UNG holders, since UNG only invests in the nearest-term natural gas contract.
at 10:11 on December 14th, 2009
Exxon: Here's Why We Just Spent $41 Billlion On Natural Gas
at 14:49 on December 14th, 2009
Exxon's Natural Gas Play Fuels the Market
at 14:52 on December 14th, 2009
Exxon: Here's Why We Love XTO
at 14:55 on December 14th, 2009
Exxon Finally Wakes Up To Reality
at 18:55 on December 14th, 2009
Exxon and XTO: Big Oil Just Got BiggerOckham Research submits:
Complete Story