Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion. It’s the company’s largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. Including debt, Exxon is committing about $64.5 billion to the acquisition, leaving no doubt of the Texas energy company’s commitment to […]
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Exxon Mobil is buying Pioneer Natural for $59.5 billion
Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion. It’s the company’s largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. Including debt, Exxon is committing about $64.5 billion to the acquisition, leaving no doubt of the Texas energy company’s commitment to fossil fuels as energy prices surge. In the late 1990s, the merger between Exxon and Mobil was valued around $80 billion.