Notable Mergers and Acquisitions of the Day 5/28 (XTO, BUD, LTRE)

May 28, 2008 9:34 AM EDT

StreetInsider.com Notable Mergers and Acquisitions of the Day:

• XTO Energy Inc. (NYSE: XTO) announced that it has entered into a definitive agreement to acquire producing properties and undeveloped acreage from privately-held Headington Oil Company for $1.85 billion. Consideration in the transaction includes $1.06 billion of cash and 11,742,391 shares of XTO common stock valued at approximately $790 million, or $67.35 per share. The purchase includes 352,000 net acres of Bakken Shale leasehold in Montana and North Dakota. XTO Energy's internal engineers estimate proved reserves on the properties to be 68 million barrels of oil equivalent, of which 60% are proved developed. Upon closing, the acquisition will add about 10,000 barrels of oil equivalent per day to the Company's growing production base.
  
  
• Learning Tree International, Inc. (NASDAQ: LTRE) announced that a special committee of its independent directors has decided to solicit offers to purchase the company. Learning Tree has not ruled out either continuing as a stand-alone company or pursuing some other strategic alternative.
  
  
• According to reports from FT.com's Alphaville, brewer SABMiller has quietly indicated to InBev that they would consider a bid of GBP 15, or GBP 22.6 billion.
  
  The report said SABMiller prefers a merger of equals, while InBev favors a straightforward takeover.
  
  A deal for SABMiller would be consider InBev's "Plan B" to a takeover of Anheuser-Busch (NYSE: BUD), which has in the news the past few sessions.

To see all the Mergers & Acquisitions for today in real-time go to http://www.streetinsider.com/Mergers+and+Acquisitions

Related Categories

Special Reports

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?