FTC Investigates ExxonMobil's $60 Billion Acquisition of Pioneer Natural Resources

The investigation follows calls from Senate Democrats for scrutiny of the deal, amid concerns over potential antitrust violations and environmental impact.

ExxonMobil's proposed $60 billion acquisition of Pioneer Natural Resources is under investigation by the Federal Trade Commission (FTC) for potential antitrust violations.
The FTC has requested additional information from both companies as part of its review process.
Senate Majority Leader Chuck Schumer and 22 other Democratic senators had previously urged the FTC to investigate this deal, along with Chevron's proposed $53 billion purchase of Hess Corporation.
ExxonMobil has stated that the deal would enhance U.S. energy security and benefit the American economy and consumers.
Environmental groups have criticized the deal, arguing that it could raise gas prices and keep the U.S. reliant on fossil fuels.