ExxonMobil bids $2.2 billion for InterOil, may spark bidding war

July 18, 2016 1:10 AM

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ExxonMobil bids $2.2 billion for InterOil, may spark bidding war

MELBOURNE ExxonMobil Corp has made a bid worth at least $2.2 billion for Papua New Guinea-focused InterOil Corp (IOC.N), winning the support of InterOil and topping an offer from Oil Search Ltd (OSH.AX), Oil Search said on Monday.

ExxonMobil's move pits it against French giant Total SA (TOTF.PA), which is backing Oil Search's offer with an agreement to buy part of InterOil's stake in the potentially lucrative Elk-Antelope gas field.

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