The way is clear for Exxon Mobil (NYSE:XOM) to buy InterOil (NYSE:IOC) after Oil Search (OTCPK:OISHF) announced it was dropping out of the bidding. Oil Search and Total (NYSE:TOT) had jointly offered to buy IOC in May in a deal that valued the company at $2.2B, but Exxon topped the bid earlier this week with an all-stock offer of $2.5B.
