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AP National

Exxon Mobil buys Pioneer Natural in $59.5 billion deal with energy prices surging

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Published 5:06 AM

By MICHELLE CHAPMAN
AP Business Writer

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, making it one of the oil giant’s biggest transactions ever. The transaction’s value, including debt, is about $64.5 billion. Pioneer shareholders will receive 2.3234 shares of ExxonMobil for each Pioneer share.

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