jetcityimage/iStock Editorial via Getty Images
Pioneer Natural Resources (PXD) said Wednesday it received shareholder approval for its pending merger with Exxon Mobil (NYSE:XOM), and it now expects the merger will be completed in Q2.
The companies said they are working constructively with the Federal Trade Commission in its review of the merger.
Exxon (XOM) announced in October an agreement to acquire Pioneer Natural (PXD) in an all-stock deal valued at $59.5B, or $253/share; Exxon said at the time its Permian Basin production volume would more than double to 1.3M boe/day as a result of the deal, rising to ~2M boe/day in 2027.
#Pioneer #Natural #shareholders #Exxon #merger #deal #NYSEXOM
