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Exxon Mobil (XOM) has issued an announcement.
Exxon Mobil Corporation successfully acquired Pioneer Natural Resources Company on May 3, 2024, a strategic move that has expanded its corporate portfolio and resulted in Pioneer becoming a wholly owned subsidiary. Shareholders of Pioneer received 2.3234 shares of Exxon Mobil stock for each share they held, along with cash for fractional shares. Concurrently, Maria S. Dreyfus was appointed to Exxon Mobil’s Board of Directors, with her compensation and committee assignments pending announcement. This acquisition, which also involved adjustments to Pioneer’s convertible notes, is expected to create a significant impact on the market, reflecting Exxon Mobil’s commitment to growth and shareholder value.
See more insights into XOM stock on TipRanks’ Stock Analysis page.
