Looks like XOM takeover of Pioneer is coming to fruition. From WSJ: Exxon Mobil [uS:XOM] is closing in on a deal to buy Pioneer Natural Resources, [uS:PXD] a blockbuster takeover that could be worth roughly $60 billion. A deal could be sealed in the coming days, assuming the talks don’t hit a last-minute snag, people familiar with the matter said. After posting record profits in 2022, Exxon has been flush with cash and exploring options that would push it deeper into West Texas shale. An acquisition of Pioneer, with a market cap of around $50 billion, would likely be Exxon’s largest deal since its megamerger with Mobil in 1999. It would give Exxon a dominant position in the oil-rich Permian Basin of West Texas and New Mexico, a region the oil giant has said is integral to its growth plans. The Wall Street Journal reported in April that the two companies were holding preliminary talks. Exxon has a market value of $436 billion, so the deal, which would be the biggest takeover of the year, should be easily doable.