COMPANY NEWS: Newfield Exploration to buy EEX for $640 million

Newfield Exploration Co. has signed an agreement to acquire EEX Corp. in a deal valued at $640 million. The transaction-which will include the assumption of debt, net of cash, in addition to other existing obligations-is expected to close in the third quarter, subject to the approval of EEX's common shareholders and other regulatory approvals, Newfield said.

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