Exxon Mobil Corporation and InterOil Corporation have announced an agreed transaction worth more than USD 2.5 billion, under which ExxonMobil will acquire all of the outstanding shares of InterOil.
“This agreement will enable ExxonMobil to create value for the shareholders of both companies and the people of Papua New Guinea,” says Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation.
“InterOil’s resources will enhance ExxonMobil’s already successful business in Papua New Guinea and bolster the company’s strong position in liquefied natural gas.”
InterOil Chairman Chris Finlayson says, “Our board of directors thoroughly reviewed the ExxonMobil transaction and concluded that it delivers superior value to InterOil shareholders. They will also benefit from their interest in ExxonMobil’s diverse asset base and dividend stream.”