(Bloomberg) -- Exxon Mobil Corp. is in talks to acquire shale-focused Pioneer Natural Resources Co., according to a person familiar with the matter.Most Read from BloombergAlmost Anyone Can Become the House Speaker, Except Donald TrumpOzempic Is Making People Buy Less Food, Walmart SaysThe Moral Case for No Longer Engaging With Elon Musk’s XIt's Done. The Future Is Battery-Powered Electric CarsOnly an Equities Crash Can Rescue the Bond Market, Barclays SaysThe Wall Street Journal reported the de
-- Exxon Mobil Corp. is in talks to acquire shale-focused Pioneer Natural Resources Co., according to a person familiar with the matter.Only an Equities Crash Can Rescue the Bond Market, Barclays Says
At that size, the deal would potentially be the largest this year, surpassing pharmaceutical giant Pfizer Inc.’s $43 billion acquisition of cancer-drug maker Seagen Inc. announced in March. It would also be Exxon’s biggest acquisition since merging with Mobil Corp. in 1999, and would make the energy giant the top producer in the most prolific US oil basin.Though advanced, the transaction could still fall apart, the person said.
The company’s finances took a hit during the pandemic as oil prices plunged and as it ramped up capital spending on large global projects, forcing Exxon to borrow billions of dollars to pay shareholder dividends. Exxon’s CEO Darren Woods told investors in July the company continued to review potential M&A, but would remain “picky” and focused on creating value.Oil prices in 2023: Deloitte calls for US$85 WTI averageOTTAWA — Officials in Ottawa and British Columbia have welcomed a ruling under the North American Free Trade Agreement, saying it found elements of the United States' calculation of softwood lumber duties are inconsistent with that country's own law.
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