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Thursday, March 11, 2010

Exxon Mobil CEO: XTO Transaction To Close In 2Q

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By Isabel Ordonez
Dow Jones Newswires
     

    NEW YORK (Dow Jones)-Exxon Mobil Corp. (XOM) Chief Executive Rex Tillerson said the company expects to close its pending acquisition of U.S. natural gas producer XTO Energy Inc. (XTO) in the second quarter.

    Speaking to analysts in the company's annual meeting in New York, Chief Tillerson said he believes that while the value of the acquisition to Exxon Mobil and its shareholders is "compelling," the real benefit of the $41 billion transaction will be evident over several years or even decades.

    Copyright © 2009 Dow Jones Newswires

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