Exxon is expected to announce an all-stock acquisition offer for Pioneer Natural Resources later today in a deal that could be worth $58 billion.
Exxon is later today expected to announce an all-stock acquisition offer for Pioneer Natural Resources, Reuters has reported, citing unnamed sources. Bloomberg, also citing unnamed sources, said that the deal could be worth $58 billion, with the price per share at $250, representing a 16% premium to Pioneer’s closing price last Thursday when the Wall Street Journal reported on the acquisition negotiations.
Pioneer also grew through acquisitions, buying Parsley Energy for over $7 billion in 2020 and DoublePoint Energy for over 6 billion in 2021. Earlier reports on the tie-up between Exxon and Pioneer said that the deal would be subjected to meticulous scrutiny from antitrust authorities but there was a good chance it would be allowed to proceed, Reuters reported last week. The reason for this is that the Federal Trade Commission does not have a strong argument against an all-U.S.
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