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Pioneer Natural Resources Company Announces Merger with ExxonMobil

Strategic Insights

— 1 min read

Pioneer Natural Resources Company and ExxonMobil have entered into an agreement to merge, with Pioneer surviving the merger as a wholly-owned subsidiary of ExxonMobil. The merger is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction or waiver of other closing conditions. The companies continue to work constructively with the Federal Trade Commission (FTC) in its review of the merger.

Key Takeaways:

  • The merger between Pioneer Natural Resources Company and ExxonMobil is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
  • The merger is pending, with the companies continuing to work constructively with the Federal Trade Commission (FTC) in its review.
  • The companies expect the merger to be completed in the first half of 2024, subject to the fulfillment of the closing conditions, including receipt of required regulatory approvals and approval of Pioneer's stockholders.
  • ExxonMobil and Pioneer have filed and will file relevant materials with the Securities and Exchange Commission (SEC) in connection with the merger.
  • The Form S-4 is available free of charge on ExxonMobil's and Pioneer's internet websites and at the SEC's website.
  • The merger is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction or waiver of other closing conditions.

Statistics:

  • The merger between Pioneer Natural Resources Company and ExxonMobil is subject to the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
  • The Form S-4 has been filed with the SEC and is available free of charge.
  • The companies expect the merger to be completed in the first half of 2024.

Sources:

  • SEC filing dated December 4, 2023 (SEC File No. 001-10383)
  • Form S-4 filed by ExxonMobil on November 21, 2023
  • ExxonMobil's website and SEC filings
  • Pioneer Natural Resources Company's website and SEC filings

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