|
|
Article: XTO Energy to buy Hunt Petroleum for $4.19 billion
- Article from:
- AP Online
- Article date:
- June 10, 2008
- Author:
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Heirs of famed Texas wildcatter H.L. Hunt, once among the richest men in America, are selling one of the last remaining pieces of his legacy, the Hunt Petroleum Corp., for $4.19 billion.
XTO Energy Inc. said Tuesday it is buying privately held Hunt Petroleum for cash and stock in a deal made more attractive by high oil and gas prices.
But the deal could become tangled in a money feud roiling the Hunt family. The lawyer for one of Hunt's great-grandsons, who is suing his own family over billions held in trust funds, vowed Tuesday to block the sale. He considers the price too low.
XTO said the deal includes $2.6 billion in cash and 23.5 million shares of XTO stock that ...