Cox Acquires Energy XXI in $322 Million Deal

摘要

Privately held shallow-water Gulf of Mexico producer Cox Oil plans to buy Nasdaq-listed rival Energy XXI Gulf Coast for $322 million as it continues to consolidate assets on the US Continental Shelf. The two companies have signed a definitive agreement under which Cox will acquire all the outstanding shares of Energy XXI for $9.10/share, which is a 21% premium to the company’s closing price on Friday.