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© Reuters. FILE PHOTO: ExxonMobil and Pioneer Pure Assets logos are seen on this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photograph
(Reuters) -Prime U.S. oil producer Exxon Mobil (NYSE:) is in talks to pay greater than $250 per share for Pioneer Pure Assets (NYSE:) Co, Bloomberg Information reported on Tuesday.
An all-stock deal could possibly be introduced as quickly as Wednesday, based on the report, citing individuals aware of the matter, including {that a} remaining settlement hasn’t been reached and the phrases might change or talks might nonetheless finish with no deal.
Pioneer and Exxon didn’t instantly reply to a Reuters request for remark.
Pioneer, which closed at $237.41 on Tuesday at a market valuation of about $55.35 billion, is the third-largest oil producer within the Permian basin after Chevron Corp (NYSE:) and ConocoPhillips (NYSE:).
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