'FTC Investigating Exxon's $60B Deal For Pioneer; The Regulator Is Seeking More Information From The Oil Producers About The Megadeal' - WSJ
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The Federal Trade Commission (FTC) is investigating Exxon Mobil's proposed $60 billion acquisition of Pioneer Natural Resources. The FTC is seeking additional information to determine if the merger could be anticompetitive. This inquiry is a standard procedure in merger reviews, which on average take about 10 months to complete according to Dechert law firm data.
December 05, 2023 | 5:06 pm
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NEGATIVE IMPACT
Pioneer Natural Resources, the target of Exxon Mobil's $60 billion acquisition, is under FTC review, which could impact the timeline and terms of the deal.
The FTC's request for more information on the Exxon-Pioneer deal could lead to delays or changes in the deal structure, potentially affecting Pioneer's stock price negatively in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80
NEGATIVE IMPACT
Exxon Mobil's planned acquisition of Pioneer Natural Resources is under FTC investigation for potential antitrust issues, which could delay or alter the deal.
The FTC investigation into the Exxon-Pioneer merger introduces uncertainty and potential delays, which typically puts downward pressure on the acquiring company's stock price in the short term.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80