June 11 - Corporate Dealmaker Blog (The Deal) - "Duane was in the hot tub, shooting at his new dog house with a .44 Magnum."
That's how Larry McMurtry began "Texasville," his 1987 sequel to "The Last Picture Show." Having gotten rich in the energy boom of the early 1980s, Duane Moore opens this novel teetering on the brink of bankruptcy amidst the subsequent bust.
A couple of items in Wednesday's news bring Duane to mind. One is the acquisition of Hunt Petroleum Corp. by XTO Energy Inc. for $2.6 billion in cash plus $1.6 billion worth of XTO's hot stock. This is XTO's third deal since April, and CEO Bob Simpson says he expects to do another $1 billion to $1.5 billion worth of deals this year. He's not the only one; energy deals are surging right along with energy prices. Read More.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment