Exxon dismisses buyout bid
Monday October 31, 11:40 am ET
NEW YORK (Reuters) - Exxon Mobil Corp. (NYSE:XOM - News), the world's largest publicly traded oil company, on Monday dismissed a bid by a little-known Chinese company called King Win Laurel Ltd. to acquire it for $450 billion in cash.
interesting, they can still buy actual crude oil instead anyway. $450 billion is enough for more than 7.5 billion barrels at today's prices, and that's nearly a quarter of total global annual consumption.