March 2016, Vol. 243, No. 3

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CEO Says Exxon Ready for Acquisitions, Investing in Business

DALLAS (AP) — Exxon is interested in acquisitions while oil prices are low, but CEO Rex Tillerson says sellers have unrealistic price expectations. Tillerson said Wednesday that Exxon Mobil Corp. is in financial position to pursue acquisitions or change its spending plans depending on what happens to the oil market. Earlier this week Exxon raised $12 billion from a bond sale, increasing speculation that it could seek to scoop up competitors. Tillerson said Exxon hasn’t made any deals yet because potential sellers are acting like homeowners who think their house is worth more than it is. Those other companies, he said, have burdened themselves with debt during the oil slump, making

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