FTC Investigates Exxon's Proposed Merger with Pioneer Amid Antitrust Concerns

Senate Majority Leader Chuck Schumer applauds the Federal Trade Commission (FTC) for launching an investigation into Exxon's proposed $60 billion merger with Pioneer, after he and 22 other Democratic senators urged the FTC to examine the deal for potential anticompetitive effects. Schumer believes that the merger could lead to higher gas prices and less competition, and he vows to closely monitor the investigation and advocate for blocking the deal if any antitrust laws are violated.