Exxon to bar Pioneer CEO from its board in deal with FTC, WSJ reports
01/05/2024 21:27
May 1 (Reuters) - Exxon Mobil XOM.N is set to close
its $60 billion deal for Pioneer Natural Resources PXD.N
following an agreement with antitrust enforcers to not add
Pioneer CEO Scott Sheffield to its board, the Wall Street
Journal reported on Wednesday, citing people familiar with the
matter.
The Federal Trade Commission is set to allege as soon as
Wednesday that Sheffield engaged in collusive activity that
could have raised the price of oil, according to the report.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Anil
D'Silva)
((mrinalika.roy@thomsonreuters.com;))