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FTC Investigates Exxon’s $60 Billion Deal for Pioneer [1]

['Dave Michaels', 'Collin Eaton']

Date: 2023-12

Exxon’s proposed takeover of Pioneer Natural Resources would make Exxon the largest oil producer in the Permian Basin of West Texas and New Mexico. Photo: Bloomberg News

U.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources , which would be the largest oil-and-gas deal in two decades, according to securities filings.

The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according to data compiled by law firm Dechert.

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[1] Url: https://www.wsj.com/business/energy-oil/ftc-investigating-exxons-60-billion-deal-for-pioneer-e79c9d75

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