In the Hunt: Fort Worth-Based XTO Buys History For $4 Billion
This morning, Fort Worth-based XTO Energy Inc. announced it's spending $4.186 billion to buy Hunt Petroleum Corporation -- "and other associated entities," which would include its real-estate endeavors. Of course, the 83-year-old company started by wacky bigamist H.L. Hunt isn't getting the whole briefcase of cash: There will be $2.6 billion in cash, with the rest paid out with 23.5 million shares of XTO common stock valued at $1.6 billion, give or take, which translates to $67.50 per share -- which works out well for XTO, whose stock this a.m. currently sits at $67.72 per share. And, notes The Wall Street Journal, it's "a deal that may help put to rest a Hunt family feud" about which everyone in town seems to think is riveting, enh. --Robert Wilonsky
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