Exxon Mobil has agreed to buy Pioneer Natural Resources for US$59.5 billion, its largest takeover in more than two decades, as it seeks to become the dominant producer of shale oil. Exxon will pay US$253 per share in an all-stock deal, according to a statement on Wednesday. The agreement paves the way for Exxon’s biggest acquisition since merging with Mobil Corp in 1999 and is the world’s largest corporate takeover announced this year.
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