Exxon’s huge acquisition of Pioneer wins FTC approval if former CEO banned from board

Almost five months after the Federal Trade Commission opened an antitrust investigation into Spring-based Exxon Mobil Corp.’s (NYSE: XOM) $59.5 billion acquisition of Pioneer Natural Resources Co. (NYSE: PXD), the agency has agreed to allow the merger to go ahead — with a few major conditions. The deal is now expected to close imminently.