Exxon's Potential Acquisition of Pioneer: $250+ per Share

Exxon Mobil Corp. is reportedly in talks to acquire Pioneer Natural Resources Co. for over $250 a share, in a deal that could be announced as soon as Wednesday. The potential all-stock deal, valued at around $58 billion, would be Exxon's largest acquisition since its merger with Mobil Corp. in 1999. The acquisition would unite two major players in the Permian Basin, making Exxon the dominant oil producer in the region. The move reflects Exxon's bet on the continued importance of oil and gas in the global energy mix, despite the push towards a lower-carbon future.