ExxonMobil Buys Denbury In $4.9B Stock Deal, Boosts Low Carbon Solutions Business
Portfolio Pulse from Lekha Gupta
Exxon Mobil Corp (XOM) has announced a deal to acquire Denbury Inc (DEN) for $4.9 billion, which will boost its Low Carbon Solutions business. The acquisition will give XOM ownership of the largest CO2 pipeline network in the U.S. and DEN's Gulf Coast and Rocky Mountain oil and natural gas operations. The transaction is expected to close in Q4 2023.
July 13, 2023 | 1:33 pm
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POSITIVE IMPACT
Denbury's shareholders will benefit from the company's acquisition by Exxon Mobil, as they will receive 0.84 shares of XOM for each of their shares.
Denbury's shareholders will receive 0.84 shares of Exxon Mobil for each of their shares as part of the acquisition deal. This could potentially increase their investment value, which could have a positive impact on Denbury's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil's acquisition of Denbury will significantly boost its Low Carbon Solutions business and give it ownership of the largest CO2 pipeline network in the U.S.
The acquisition of Denbury will significantly enhance Exxon Mobil's Low Carbon Solutions business, which could potentially increase its market share and profitability in the long run. This could have a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100