InterOil In Revised Deal With Exxon Mobil
December 15 2016 - 9:17PM
Dow Jones News
By Josh Beckerman
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 will pay $45 a share in stock, in line with the original
deal announced in July. Meanwhile, the termination fee payable by
InterOil in certain circumstances was increased to $100 million
from $67 million.
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.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
December 15, 2016 21:02 ET (02:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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