Exxon, Pioneer get second FTC request for information on pending takeover (updated)
05/12/2023 14:35
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Dec 5 (Reuters) - The U.S. Federal Trade Commission has
sent shale oil producer Pioneer Natural Resources PXD.N and
Exxon Mobil XOM.N a second request for more information on
their $60 billion takeover deal, Pioneer said on Tuesday.
The companies are working with the FTC and continue to
expect that the deal will be completed in the first half of
2024, Pioneer said in a regulatory filing.
U.S. Senate Majority Leader Charles Schumer and 22 other
Democratic senators wrote to the FTC in November saying
multi-billion dollar acquisitions by oil and gas giants Exxon
and Chevron CVX.N could lead to higher prices for consumers.
Exxon had announced the deal to buy Pioneer in October.
(Reporting by Sourasis Bose in Bengaluru; Editing by Devika
Syamnath)
((Sourasis.Bose@thomsonreuters.com;))