{"id":69785,"date":"2023-10-07T04:18:58","date_gmt":"2023-10-07T08:18:58","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/pioneer-shares-jump-on-reported-exxonmobil-deal-talks\/"},"modified":"2023-10-07T04:19:02","modified_gmt":"2023-10-07T08:19:02","slug":"pioneer-shares-jump-on-reported-exxonmobil-deal-talks","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69785","title":{"rendered":"Pioneer shares jump on reported ExxonMobil deal talks"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Investing.com —\u00a0Shares in Pioneer Natural Resources <\/span><\/span> (NYSE:) surged in early U.S. trading on Friday on media reports that ExxonMobil (NYSE:) is currently in negotiations to buy the shale driller.<\/p>\n

Citing people familiar with the matter, reports say that the blockbuster deal would be worth about $60 billion, with an agreement possibly coming as soon as in the coming days. It could be one of the oil group’s largest purchases in over 20 years.<\/p>\n

The Wall Street Journal was the first to unveil a report on the talks.<\/p>\n

Analysts at Roth noted that if the reported price refers to Pioneer’s equity valuation, it would mean that shareholders in the firm would receive a roughly 13% premium.<\/p>\n

The move comes as Exxon aims to use record profits posted in 2022 to boost its presence in the sprawling and lucrative Permian Basin in Texas and New Mexico. Pioneer, which has market capitalization of roughly $50B, is the largest crude producer in Texas.<\/p>\n

If completed, it would be the largest tie-up for Exxon since it merged with Mobil in 1999 and all but crystallize its position as the West’s key oil major. Shares in Exxon dipped following the opening bell on Wall Street.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com —\u00a0Shares in Pioneer Natural Resources (NYSE:) surged in early U.S. trading on Friday on media reports that ExxonMobil (NYSE:) is currently in negotiations to buy the shale driller. Citing people familiar with the matter, reports say that the blockbuster deal would be worth about $60 billion, with an agreement possibly coming as […]<\/p>\n","protected":false},"author":1,"featured_media":69786,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-69785","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nPioneer shares jump on reported ExxonMobil deal talks | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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