Exxon Mobil to buy XTO Energy for $41 billion

NEW YORK (MarketWatch) -- Exxon Mobil Corp. (XOM 72.04, -0.79, -1.09%) said Monday it'll buy domestic natural gas giant XTO Energy Inc. (XTO 50.23, +8.74, +21.07%) in an all-stock deal valued at $41 billion. The agreement, which is subject to XTO stockholder approval and regulatory clearance, will "enhance ExxonMobil's position in the development of unconventional natural gas and oil resources," Exxon Mobil said. Exxon Mobil has agreed to issue 0.7098 common shares for each common share of XTO. The deal represents a 25% premium to XTO stockholders. The transaction value includes $10 billion of existing XTO debt and is based on the closing share prices of Exxon Mobil and XTO on Friday.