Deals
Exxon in Talks to Buy Pioneer in What Could Be 2023’s Biggest Deal
- Deal could potentially be the largest takeover this year
- Acquisition would give Exxon dominant position in US shale
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Exxon Mobil Corp. is in talks to acquire Pioneer Natural Resources Co., according to a person familiar with the matter, nearing its largest takeover in more than two decades as the energy giant seeks to become the dominant US producer of shale oil.
An agreement could be worth as much as $60 billion and may be completed in the coming days provided there are no complications, according to the Wall Street Journal, which first reported the talks on Thursday. At that size, it would potentially be the world’s largest takeover this year.