07-14-2016, 07:49 AM
For Exxon Chairman and Chief Executive Rex Tillerson, capturing InterOil’s discoveries would help staunch production losses and add reserves after a $35 billion wrong-way bet on U.S. gas and a Russian exploration venture interrupted by international sanctions.
“There are various processes that need to be completed, including due diligence, before the board can formally decide whether to change their existing recommendation to shareholders,” InterOil said in an e-mailed response to Bloomberg queries on the reported bid.
“There are various processes that need to be completed, including due diligence, before the board can formally decide whether to change their existing recommendation to shareholders,” InterOil said in an e-mailed response to Bloomberg queries on the reported bid.