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ExxonMobil has sealed a $59.5 billion (€56 billion) deal to acquire shale oil giant Pioneer Natural Resources, the companies announced on Wednesday, marking the oil giant’s biggest acquisition since the late 1990s buyout of Mobil by Exxon.
The deal, valued at $253 a share, represents a 9% premium to Pioneer’s average share price for the 30 days prior to October 5, when reports of discussions first surfaced.
It also demonstrates ExxonMobil’s commitment to fossil fuels even as climate…
