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Re: Exxon Mobil to buy XTO Energy for $31 billion
As a skeptical stock-holder in Exxon, I would like to know how much the CEO of Exxon made on day-one of this all-stock deal, especially since he had shares of XTO as well as Exxon (XOM)? May I guess that he made more on XTO than he lost on XOM? Fill me in on the arithmetic of this quiet little deal; I can't wait to read it.:rolleyes:
If this is how capitalism works, that is to say, dark markets and back-room deals, then there is no future for America. -
Re: Exxon Mobil to buy XTO Energy for $31 billion
That the Chief Executive of Exxon owns Exxon stock is shocking...absolutely shocking I tell you...:rolleyes:Originally posted by Starving Steve View Post
[But I am curious about where I can find credible information that he also held XTO stock directly...care to enlighten us as to how you found out?]Comment
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Re: Exxon Mobil to buy XTO Energy for $31 billion
The story about the XTO and XOM stock owned by the CEO of Exxon was on either Bloomberg or CNBC earlier to-day, Dec 14, 2009. I am upset because in one day XOM dropt by over $3 per share to fund the take-over of XTO, not to mention that the purchase of XTO stock was something like 45% above the open market price. This caused XOM to drop.
Where were the regulators? Where was the SEC?
Starving Steve will be eating Spam and horse manure to make-up for this loss to-day alone. (Times are tough.)
And then there are other issues that annoy me: Why do I have to own natural gas when North America is floating on nat. gas reserves? I bought Exxon to own oil, not gas. Oil is scare, and gas is not. Why wasn't I allowed to vote on this decision to dabble into nat. gas? And cooler summers and warmer winters imply weak natural gas prices into the future, not higher prices. But nobody asked me what I think. And then how is the issue of converting cars to run on nat. gas going to be solved? My guess is that it won't be solved, so nat. gas will remain in over-supply here in North America.:rolleyes:Comment
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Re: Exxon Mobil to buy XTO Energy for $31 billion
Correction: XTO was purchased by XOM (Exxon Mobil) for 25% over its former open-market price. The deal was made by XOM in shares of XOM, which translates (in plain English) to a dilution of XOM stock value. The deal was made without notice to share-holders in XOM.
Hence, Starving Steve will eat Spam this winter.Comment
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Re: Exxon Mobil to buy XTO Energy for $31 billion
1. It's not necessarily dilutive to existing shareholders because XOM is acquiring assets on the balance sheet, and an increase on the income statement. It depends on what price was paid to acquire those assets and the associated current and future income. The deal could be accretive...you'll have to work the numbers Steve before you can make the claim above.Originally posted by Starving Steve View Post
2. You still didn't give us any reference to where we can confirm that Tillerson directly owned XTO stock. The reason I am persisting in this is that I flat out don't believe that story...if it was true it would be grounds for immediate termination of his employment in a company like Exxon because of the conflict of interest.
3. If you held XOM because you wanted oil and not natural gas, you seem to have been ignoring XOMs pretty substantial existing natural gas assets. For example XOM has been blathering on about the tremendous potential of its large position in the Horn River shale gas play recently. Let that be a warning...
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Re: Exxon Mobil to buy XTO Energy for $31 billion
Not just immediate termination but also jail time. I'm sure the SEC would be very interested if that were the case.Originally posted by GRG55 View PostGregComment
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