Exxon in talks to pay over $250 per share for Pioneer By Reuters

© Reuters. FILE PHOTO: ExxonMobil and Pioneer Pure Assets logos are seen on this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photograph

(Reuters) -High U.S. oil producer Exxon Mobil (NYSE:) is in talks to pay greater than $250 per share for Pioneer Pure Assets (NYSE:) Co, in line with an individual acquainted with the matter.

An all-stock deal could possibly be introduced as quickly as Wednesday, the particular person stated.

Bloomberg Information reported in regards to the deal earlier. Pioneer and Exxon didn’t instantly reply to a Reuters request for remark.

Pioneer, which closed at $237.41 on Tuesday at a market valuation of about $55.35 billion, is the third-largest oil producer within the Permian basin after Chevron Corp (NYSE:) and ConocoPhillips (NYSE:).