01:25 PM EDT, 05/01/2024 (MT Newswires) -- (Updates with details throughout)

The Federal Trade Commission is prepared to decide whether to sue to block Exxon Mobil's ( XOM ) $60 billion acquisition of Pioneer Natural Resources ( PXD ) in the coming days, Bloomberg reported Wednesday, citing people familiar with the matter.

The regulator had 30 days from the start of April to make a decision after Exxon triggered the countdown by complying with the FTC's second request for information, the report said.

The timeline may be extended if both sides agree to continue talks to iron out competition issues, according to Bloomberg.

The FTC, Pioneer, and Exxon did not immediately respond to requests for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 116.25, Change: -2.02, Percent Change: -1.71