Re: Good times for XTO Energy-(off topic)
in response to
by
posted on
Dec 14, 2009 07:18PM
Developing large acreage positions of unconventional and conventional oil and gas resources
Looks like a few people must be a little upset over this news.
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Robbins Umeda LLP Announces Investigation of XTO Energy Inc.-Exxon Mobile Corporation Merger
12/14/2009 5:59 PM - Business Wire
SAN DIEGO, Dec 14, 2009 (BUSINESS WIRE) --
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of XTO Energy Inc. ("XTO") in connection with its decision to merge with Exxon Mobile Corporation ("Exxon"). XTO and Exxon announced their agreement to merge the companies on Monday, December 14, 2009. Under the terms of the merger agreement, Exxon has agreed to exchange 0.7098 common shares for each common share of XTO. This exchange ration is based on the closing share prices of Exxon and XTO on December 11, 2009. XTO and Exxon expect to complete the transaction in the second quarter of 2010.
Robbins Umeda LLP's investigation concerns whether the consideration to be received by XTO shareholders is fair and whether the directors and special committee members have acted in the shareholders' best interests in connection with the sale process.
If you are a shareholder of XTO and would like more information about your rights as a shareholder, please contact attorney Lauren Levi at 800-350-6003 or by email at llevi@robbinsumeda.com.
Robbins Umeda is a San Diego, California-based law firm with substantial experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit http://www.robbinsumeda.com.
SOURCE: Robbins Umeda LLP
Robbins Umeda LLP Lauren Levi, 800-350-6003 llevi@robbinsumeda.com
Copyright Business Wire 2009