(WBAP/KLIF) — Security filings show the Federal Trade Commission (FTC) is investigating ExxonMobil’s $60 billion deal to acquire a Texas oil company, potentially one the largest energy industry mergers in two decades.
The request for additional information on ExxonMobil’s proposed acquisition of Pioneer Natural Resources is a step the agency takes when reviewing whether a merger is anticompetitive under U.S. law.
The investigation comes after Senate Majority Leader Chuck Schumer and 22 other Democratic senators urged the FTC to investigate the Exxon-Pioneer deal and a separate deal by oil giant Chevron to buy Hess Corporation for $53 billion.
There’s no public indication of a Federal inquiry into the Chevron merger.
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