Exxon to bar Pioneer CEO from its board in deal with FTC, WSJ reports
4:32 pm Wednesday, May 01st, 2024
(Reuters) – Exxon Mobil is set to close its $60 billion deal for Pioneer Natural Resources 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)
