financetom
Business
financetom
/
Business
/
Exxon to bar Pioneer CEO from its board in deal with FTC, WSJ reports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Exxon to bar Pioneer CEO from its board in deal with FTC, WSJ reports
May 1, 2024 1:43 PM

May 1 (Reuters) - Exxon Mobil ( XOM ) is set to close

its $60 billion deal for Pioneer Natural Resources ( PXD )

following an agreement with antitrust enforcers to not add

Pioneer CEO Scott Sheffield to its board, the Wall Street

Journal reported on Wednesday, citing people familiar with the

matter.

The Federal Trade Commission is set to allege as soon as

Wednesday that Sheffield engaged in collusive activity that

could have raised the price of oil, according to the report.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Anil

D'Silva)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved