Heirs of H.L. Hunt to sell Hunt Petroleum

The heirs of Texas oilman H.L. Hunt are preparing to sell Hunt Petroleum Corp. for $4.19 billion to XTO Energy, Inc.

However, the lawyer for one of H.L.’s great-grandsons claims that he will attempt to block the sale because his client is in the process of suing various members of his family for billions of dollars held in trust.  The basis to block the sale is that he believes the price is too low!  The deal is scheduled to close (assuming the attempt to block is unsuccessful) on September 3, 2008.

See Andrew Ross Sorkin, XTO to Buy Hunt Petroleum for $4.2 Billion, N.Y. Times, June 10, 2008.