M&A Update: Exxon Buyout Potential, Local Corp Sells Rovion
Exxon Mobil Corporation (NYSE:XOM) possesses the financial clout to acquire a company such as Encana Corporation (NYSE:ECA), but analysts wonder if such a move will actually take place as anticipated. Kevin Kaiser at Hedgeye praises the concept subsequent to Exxon’s buyout of Celtic, whose assets are right in the middle of Encana’s Canadian natural gas assets, but worries that getting past government approval could be tricky.
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Local Corporation (NASDAQ:LOCM) divests its Rovion rich-media advertising tech business to the media conglomerate Gannett Co. (NYSE:GCI), in a transaction whose financials were not reported. Rovion’s Ad Composer platform permits the development of multimedia ads without coding ability. The buyer has been accelerating its technology mergers and acquisitions activity as it recently bought the loyalty card application developer Mobestream Media marketing firm BLiNQ Media.