DEN - Denbury said working with J.P. Morgan on sale; Exxon could be interested

Denbury ( NYSE: DEN ) spikes as much as +3.5% following a Street Insider report Monday that the company is in talks to be acquired by a strategic buyer and is working with J.P. Morgan on a potential deal.

Stabilization in crude prices could give bidders confidence to launch a takeover of Denbury ( DEN ), the report said.

Update: Bloomberg reports Exxon Mobil ( NYSE: XOM ) is considering a takeover of Denbury ( DEN ), sending shares higher again.

The company escaped bankruptcy in September 2020 with an agreement that eliminated $2.1B in bond debt and handed control to creditors.

Denbury ( DEN ) has been the subject of recent speculation, including a Bloomberg report in August that the company was exploring options including a possible sale .

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