ExxonMobil Buying Pioneer Natural Resources $59.5B

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And there's the there's a deal in energy space. What is shut news are yeah. So Exxon Mobile is buying rival pioneer natural resources for just under $60 billion in an all stock deal. Well, Exxon's largest deal since since 1999 merger with Mobile, the company announced it expects its production value in the premium basin to more than double to the equivalent of 1.3 million barrels of oil a day. Well, as part of the agreement shareholders of Pioneer will get just over two shares of Exxon for every Pioneer share that they currently own. The deal is expected to close in the first half of next year.