CEO Rex Tillerson

NEW YORK (Reuters) - XTO Energy Inc <XTO.N> Chairman Bob Simpson and other officers have waived the change in control provisions in their employment agreements as part of their deal to be bought by Exxon Mobil Corp <XOM.N> and have instead signed consulting deals with the oil major. Under the new agreement, Simpson could receive up to $46 million in cash and stock if the Exxon deal closes, according to a filing with the Securities and Exchange Commission. That compares to the roughly $70 million Simpson could have pulled in under the change in control provisions of his employment agreement. If the merger closes, ... Read Full Story

The founder of XTO Energy stands to get near $43 million in cash and stock after the natural gas producer agreed to be bought by Exxon Mobil in a deal worth about $30 billion, according to a regulatory filing Tuesday. Bob Simpson will retire from the company under the deal and become a consultant for Exxon Mobil, according to the filing with the Securities and Exchange Commission. Should the deal be completed, Simpson will also receive an award of 833,333 shares of XTO that are worth nearly $40 million based on Tuesday's closing stock price of $47.66. He also will get retention payments of ... Read Full Story

Exxon Mobil will buy XTO Energy in an all-stock deal worth $31 billion as the oil giant moved aggressively Monday to capitalize on the growing supply of natural gas at home. The deal could signal a new rush to own natural gas assets by major integrated producers, and perhaps the start of a significant consolidation in the energy industry. "Exxon is the group leader and it sets the trend. I would expect more acquisitions in the next three to six months," said Fadel Gheit, senior energy analyst for Oppenheimer. "Who that will be is the $64,000 question. Exxon is closely watched in the industry ... Read Full Story

ExxonMobil announced plans Monday to acquire rival exploration firm XTO Energy for 41 billion dollars, a deal giving the largest US energy producer a bigger share of domestic natural gas reserves. The biggest US oil group said the all-stock takeover deal would "enhance ExxonMobil's position in the development of unconventional natural gas and oil resources." The transaction includes the assumption of 10 billion dollars in XTO debt and offers shareholders a 25 percent premium to the most recent stock price. The deal "will be a taken as a major bullish signal on natural gas," said Joe Weisenthal, analyst at the financial website Business Insider. ... Read Full Story

ExxonMobil announced plans Monday to acquire rival exploration firm XTO Energy for 41 billion dollars, a deal giving the largest US energy producer a bigger share of domestic natural gas reserves. The biggest US oil group said the all-stock takeover deal would "enhance ExxonMobil's position in the development of unconventional natural gas and oil resources." The transaction includes the assumption of 10 billion dollars in XTO debt and offers shareholders a 25 percent premium to the most recent stock price. The deal "will be a taken as a major bullish signal on natural gas," said Joe Weisenthal, analyst at the financial website Business Insider. ... Read Full Story