Monday, April 09, 2007

BusinessWeek Mentions XOM-for-DVN Rumor

Devon Energy (NYSE: DVN) : DVN, is an energy company engaged in oil and gas exploration, closed at $71.88. Business Week reported Oppenheimer oil analyst Fadel Gheit says rumors have surfaced XOM may go after DVN. DVN April option implied volatility of 25 is below its 6-month average of 29 according to Track Data. Paul Foster

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