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UPDATE 1-Exxon-XTO deal clears regulators
March 16, 2010 / 6:30 PM / 8 years ago

UPDATE 1-Exxon-XTO deal clears regulators

HOUSTON, March 16 (Reuters) - Exxon Mobil Corp (XOM.N) has received clearance from U.S. and Dutch regulators for its $27 billion acquisition of U.S. oil and gas company XTO Energy Inc XTO.N, Exxon said in a regulatory filing on Tuesday.

The approvals put the U.S. oil major one step closer to completing a deal meant to ramp up global exploration for natural gas in substances like shale or impermeable sands.

The deal, which is expected to close in the second quarter, still lacks the approval of XTO’s shareholders, according Exxon’s filing with the U.S. Securities and Exchange Commission.

Shares of Exxon rose 11 cents to $66.41 while XTO shares were 23 cents higher at $46.94. Both companies trade on the New York Stock Exchange. (Reporting by Anna Driver in Houston; Editing by Bernard Orr)

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