HOUSTON: Top US oil producer Exxon Mobil is in talks to pay more than US$250 per share for Pioneer Natural Resources Co, Bloomberg News reported on Tuesday.
An all-stock deal could be announced as soon as Wednesday, according to the report, citing people familiar with the matter, adding that a final agreement hasn’t been reached and the terms could change or talks could still end without a deal.
Pioneer and Exxon did not immediately respond to a Reuters request for comment.
Pioneer, which closed at US$237.41 on Tuesday at a market valuation of about US$55.35 billion, is the third-largest oil producer in the Permian basin after Chevron Corp and ConocoPhillips.