Sector News

InterOil in revised deal with Exxon Mobil

December 16, 2016

InterOil Corp., whose planned sale to Exxon Mobil Corp. has faced court setbacks in Canada, reached an amended deal extending the “outside date” of the transaction to March 31.

The revised agreement increases the amount of additional cash payments to InterOil shareholders based on the gross resource certification of the Elk-Antelope field.

Exxon’s all-stock bid valued at about $2.5 billion topped Oil Search Ltd.’s$2.2 billion proposal.

In early November, a Yukon appeals court overturned approval for the deal.

By Josh Beckerman

Source: Nasdaq

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