Devon Energy could be acquired soon--BusinessWeek
NEW YORK, - Devon Energy Corp. (NYSE DVN) may be acquired soon as takeovers spread in the oil industry, BusinessWeek reported in its July 10 edition.
Possible buyers for the U.S. independent oil and gas producer include Exxon Mobil Corp. (NYSE XOM), BP (NYSE BP) or Chevron Corp. (NYSE CVX), the magazine reported, citing Oppenheimer analyst Fadel Gheit.
Devon had been buying up other companies, adding to its allure by increasing growth potential, assets and valuation, the magazine reported. The company could be worth $40 billion, or $90 a share, versus its price of $56.27 on June 28, BusinessWeek reported.
NEW YORK, - Devon Energy Corp. (NYSE DVN) may be acquired soon as takeovers spread in the oil industry, BusinessWeek reported in its July 10 edition.
Possible buyers for the U.S. independent oil and gas producer include Exxon Mobil Corp. (NYSE XOM), BP (NYSE BP) or Chevron Corp. (NYSE CVX), the magazine reported, citing Oppenheimer analyst Fadel Gheit.
Devon had been buying up other companies, adding to its allure by increasing growth potential, assets and valuation, the magazine reported. The company could be worth $40 billion, or $90 a share, versus its price of $56.27 on June 28, BusinessWeek reported.
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