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Tony Webster
The Securities and Exchange Commission (SEC)’s message states that the regulator asked the companies for more information regarding the transaction on December 4. Pioneer and Exxon continue to work with the authority and anticipate concluding the deal in the first half of 2024.
According to The Wall Street Journal, the FTC makes these kinds of inquiries when it reviews transactions to make sure they comply with US antitrust rules. Law firm Dechert estimates that merger investigations typically take ten months to complete.
According to the publication, the commission has the option to approve the agreement through approval or to litigate to halt it.
Exxon would emerge as the dominant oil player in the Permian Basin in Texas and New Mexico if the transaction closes.
source: wsj.com
According to The Wall Street Journal, the FTC makes these kinds of inquiries when it reviews transactions to make sure they comply with US antitrust rules. Law firm Dechert estimates that merger investigations typically take ten months to complete.
According to the publication, the commission has the option to approve the agreement through approval or to litigate to halt it.
Exxon would emerge as the dominant oil player in the Permian Basin in Texas and New Mexico if the transaction closes.
source: wsj.com
