It's Official - Exxon Mobil To Acquire Pioneer Natural Resources For $59.5B In Stock
Portfolio Pulse from Nabaparna Bhattacharya
Exxon Mobil Corporation has agreed to acquire Pioneer Natural Resources Company in an all-stock transaction valued at $59.5 billion. The deal represents an 18% premium to Pioneer's closing price on October 5. The acquisition is expected to close in the first half of 2024. Exxon's shares are trading lower after the announcement, while Pioneer's shares are trading higher.
October 11, 2023 | 1:56 pm
News sentiment analysis
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NEGATIVE IMPACT
Exxon Mobil's shares are trading lower after the announcement of the acquisition.
The acquisition announcement has led to a decrease in Exxon Mobil's share price. This is likely due to the large cost of the acquisition and the uncertainty of the deal's outcome.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Pioneer Natural Resources' shares are trading higher after the announcement of the acquisition by Exxon Mobil.
The acquisition announcement has led to an increase in Pioneer Natural Resources' share price. This is likely due to the premium offered by Exxon Mobil for the acquisition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100