Capital One analyst Brian Velie downgraded Denbury (DEN) to Equalweight from Overweight following the recent announcement that Exxon Mobil (XOM) has entered into a definitive agreement to acquire Denbury in an all-stock transaction valued at $4.9B.
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- Exxon Snaps Up Denbury in $4.9B All-Stock Deal
- Exxon Mobil to acquire Denbury in all-stock transaction valued at $4.9B