Merger Mayhem: FTC's Oil Sector Crackdown Puts These 3 Pending Deals at Risk

ExxonMobil (NYSE:XOM) recently completed its $60 billion acquisition of Pioneer Natural Resources. The deal expands the oil and gas giant’s presence in the oil-rich Permian basin. However, before the Federal Trade Commission (FTC) signed off on the transaction, Pioneer CEO Scott Sheffield was banned from taking a board seat at Exxon.It alleged Sheffield colluded with the Organization of Petroleum Exporting Countries (OPEC) to keep oil prices higher. By calling for Permian producers to restrain investing too ...