Trending: ExxonMobil to Buy Denbury for $4.9 Billion
14 July 2023 - 4:13AM
Dow Jones News
13:41 EDT--ExxonMobil is one of the most mentioned companies in
the U.S. across all news items in the last 12 hours, according to
Factiva data. The oil company said it will acquire Denbury, a
carbon-capture and storage company, in an all-stock transaction for
$4.9 billion, or $89.45 a share. Denbury holders will get 0.84
shares of ExxonMobil per Denbury share. ExxonMobil said the deal
gives it the largest owned and operated CO2 pipeline network in the
U.S. and 10 onshore carbon sequestration cites, part of a strategy
to accelerate carbon capture deployment over the next decade. Dow
Jones & Co. owns Factiva. (jennifer.tershak@wsj.com)
(END) Dow Jones Newswires
July 13, 2023 13:58 ET (17:58 GMT)
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