WASHINGTON — Federal regulators are examining ExxonMobil’s $60 billion offer to acquire a Texas oil business in what would be one the biggest mergers in the energy market in 2 years, according to securities filings.
The Federal Trade Commission, which imposes federal antitrust law, has asked for extra details from the business about Exxon’s proposed acquisition of Pioneer Natural Resources. The demand is a action the company takes when examining whether a merger might be anticompetitive under U.S. law. Pioneer divulged the demand in a filing Tuesday.
The examination comes after Senate Majority Leader Chuck Schumer and 22 other Democratic senators advised the FTC to examine the Exxon-Pioneer offer and a different acquisition by oil giant Chevron, a proposed $53 billion purchase of Hess Corporation. Both offers are amongst the biggest petroleum offers in U.S. history and might break antitrust law, the Democrats stated. There’s no public indicator of a federal questions into the Chevron merger.
Schumer stated Tuesday he