Exxon mulling acquisition of minor oil and gas company
US supermajor ExxonMobil is eyeing oil and gas company Denbury as a potential acquisition target, reports Bloomberg News citing anonymous sources.
No final decision has been made on such a move, though, the sources say.
Denbury has declined to comment on the information, and Exxon has not replied to requests for comments, writes Bloomberg.
Denbury’s share price rose 0.6% in the wake of the reports, increasing its market cap to USD 4.7bn.
Since August, Denbury has worked with advisors to uncover any potential interest in the company, which went through a bankruptcy in 2020.
On the other hand, Exxon’s share price declines by 1.6% during Monday’s trading.
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