Exxon Mobil Reportedly In Advanced Talks Over $250-Per-Share Acquisition Of Pioneer Natural Resources
Portfolio Pulse from Benzinga Neuro
Exxon Mobil Corp. is reportedly in advanced talks to acquire Pioneer Natural Resources Co. for more than $250 per share, valuing Pioneer at no less than $58 billion. The all-stock deal could be announced as early as Wednesday. However, the final agreement is yet to be finalized and the terms may change or the talks could end without a deal. The potential merger would strengthen Exxon’s position as the largest oil producer in the Permian Basin of Texas and New Mexico.
October 11, 2023 | 12:37 am
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Pioneer Natural Resources is in advanced talks to be acquired by Exxon Mobil for more than $250 per share. The deal could value Pioneer at no less than $58 billion.
The potential acquisition of Pioneer Natural Resources by Exxon Mobil could lead to a significant increase in Pioneer's stock price, particularly if the deal goes through at the speculated price of more than $250 per share. This would likely have a positive impact on Pioneer's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources. If the deal goes through, it would strengthen Exxon's position as the largest oil producer in the Permian Basin.
The acquisition of Pioneer Natural Resources would significantly strengthen Exxon's position in the oil industry, particularly in the Permian Basin. This could potentially lead to increased revenues and profits for Exxon, which would likely have a positive impact on its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100