FTC press release or major financial news outlets

FTC to Decide Soon on Exxon's $60 Billion Pioneer Deal with Settlement

May 1, 2024, 07:31 PM

The U.S. Federal Trade Commission (FTC) is poised to make a decision on Exxon Mobil's proposed $60 billion acquisition of Pioneer Natural Resources. The decision, expected in the coming days, will determine whether the FTC will sue to block the deal or allow it to proceed. Exxon Mobil has reportedly complied with the FTC's second request for information in early April, and Exxon CFO Kathy Mikells anticipates the deal to close within this quarter. Recent updates suggest that Exxon is set to win FTC approval for the deal with a settlement.