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InterOil rebounds as Exxon "fully supportive" of merger dealdeal

Published 11/07/2016, 02:28 PM
InterOil rebounds as Exxon "fully supportive" of merger dealdeal
  • InterOil (IOC +3.6%) recoups much of its Friday losses after seeking to reassure investors that its deal to be acquired by ExxonMobil (XOM +2.1%) is still alive and well despite a Canadian court's ruling that the deal was unfair to shareholders.
  • IOC says XOM has advised that it remains fully supportive of the deal as the companies work through issues raised by the court's decision that overturned a previous ruling by the Yukon's Supreme Court to allow the deal to proceed.
  • IOC says it is in discussions with XOM "with respect to extending the outside date," and also is "considering options to file for leave to appeal to the Supreme Court of Canada."

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