The Federal Trade Commission on Thursday said Exxon Mobil’s $60 billion purchase of Pioneer Natural Resources could go ahead on the condition Pioneer’s former CEO will not be allowed to join Exxon’s board. The FTC’s consent order prevents former Pioneer Natural Resources CEO Scott Sheffield from taking an offered seat on Exxon Mobil’s board of directors to resolve antitrust concerns about Exxon’s bid to buy the top shale oil producer.
Yahoo! Finance: PXD News
