Exxon Mobil buys Pioneer Natural for USD 64.5 billion

After rumors have circulated for a while, US oil giant now announces acquisition of the shale oil company.

by MARKETWIRE

On Wednesday, US energy company Exxon Mobil announced its acquisition of shale oil company Pioneer Natural for a total of USD 64.5bn.

Exxon Mobil will thus dominate the shale oil market, Bloomberg News reports.

The acquisition is a pure stock transaction where Exxon Mobil buys all of Pioneer Natural’s shares at a price of USD 253 per share.

This is a premium of 18% compared to the closing price on Oct. 5 when the first rumors of the acquisition arose.

In Wednesday’s US forex trading, Exxon Mobil falls 0.6% and Pioneer Natural rises 2.2% to USD 242.25.

(Translated by DeepL with additional editing by Christian Radich Hoffman)

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