© Reuters.
DALLAS – Exxon Mobil Corp (NYSE:).’s deliberate $60 billion acquisition of Pioneer Pure Sources (NYSE:) Co. has encountered a regulatory hurdle because the Federal Commerce Fee (FTC) launched an inquiry into the deal.
Based on an SEC submitting by Pioneer on Monday, further info has been requested by the FTC.
Regardless of this setback, each Exxon Mobil and Pioneer Pure Sources stay optimistic in regards to the transaction’s prospects. They expressed confidence that the acquisition can be finalized within the first half of 2024, whilst they adjust to the prolonged obligatory ready interval imposed by the FTC’s inquiry.
The acquisition, which represents one of many largest within the power sector, is a major transfer for Exxon Mobil because it goals to bolster its portfolio amidst a dynamic and altering power panorama. The pause in proceedings underscores the rigorous scrutiny such large-scale offers entice from regulatory our bodies, tasked with guaranteeing truthful competitors and market well being.
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