Senate Majority Leader Chuck Schumer is urging the Federal Trade Commission to look into whether Exxon Mobil (NYSE:XOM) proposed oil and gas acquisition could violate antitrust laws, Bloomberg reported Wednesday. Remember Exxon's (XOM) proposed $59.5B purchase of Pioneer Natural Resources (PXD) is not a done deal till it is Schumer's letter cited concerns that the deals could harm consumers by driving up gas prices, and he asked the FTC to consider "how Exxon's or Chevron's vertically integrated operations may harm American competition in any national or regional market."

Posted by Suze at 2023-11-01 12:04:09 UTC