XOM - It's Official - Exxon Mobil To Acquire Pioneer Natural Resources For $59.5B In Stock | Benzinga
Exxon Mobil Corporation (NYSE: XOM) shares are trading lower after it inked a definitive agreement to acquire Pioneer Natural Resources Company (NYSE: PXD) in an all-stock transaction valued at $59.5 billion, or $253 per share.
Under the terms of the deal, Pioneer shareholders will receive 2.3234 shares of ExxonMobil for each Pioneer share at closing.
ExxonMobil perceives the transaction as a conduit for further amplifying U.S. energy security by channeling supreme technologies, operational prowess, and financial capability to a pivotal source of domestic supply, thereby bestowing benefits upon the American economy and its consumers.
The acquisition deal represents 18% premium to Pioneer's undisturbed closing price on October 5 and a 9% premium to its prior 30-day volume-weighted average price on the same day.
The implied total enterprise value of the transaction, including net debt, is approximately $64.5 billion.
By the end of the Q2, Exxon's ...