Exxon Mobil has agreed to acquire Pioneer Natural Resources for an all-stock consideration of approximately $59.5 billion. The transaction, announced Oct. 11, is expected to close in the first half of 2024. Irving, Texas-based Exxon Mobil was advised by Davis Polk & Wardwell partners Shanu Bajaj, Jennifer Conway, Louis Goldberg, David Schnabel and Oliver Smith. Pioneer Natural Resources, which is also based in Irving, Texas, was represented by Gibson, Dunn & Crutcher. The Gibson Dunn team was led by partners Jeffrey Chapman and Tull Florey. Fried, Frank, Harris, Shriver & Jacobson guided Goldman Sachs Group, acting as financial advisor to Pioneer. The Fried Frank team was led by partners Philip Richter and Roy Tannenbaum.
Banking & Financial Services
October 11, 2023, 12:39 PM