For those wondering why is PXD at $268 as I write this Here is the answer When the offer was first priced it was price at $253? However this is not a cash deal. it’s a trade for every share you have of PXD you will get 2. 3234 shares of XOM So given XOM is currently at $118.82 per share as I I post this You multiply $118.82 x 2.3234= $276 a share for PXD Which is the current value of the deal So the price of PXD is dependent on the price of XOM And the price of XOM is partly dependent on the price of oil - which has been rising So that is why PXD is going up beyond $253 Now you know

Posted by Suze at 2024-04-02 18:35:53 UTC