Exxon to buy Pioneer Natural in $60 bn deal with energy prices surging
Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at USD 59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas.
The transaction’s value, including debt, is about USD 64.5 billion.
Pioneer shareholders will receive 2.3234 shares of Exxon Mobil for each Pioneer share they own.
Exxon purchased XTO Energy in 2009 for approximately USD 36 billion. In the late 1990s, the merger between Exxon and Mobil totalled more than USD 80 billion.
