The U.S. Federal Trade Commission (FTC) has announced it is seeking public comment on a petition filed by Scott Sheffield, the former CEO of Pioneer Natural Resources. Sheffield's petition requests the commission to set aside an order related to Exxon Mobil Corp's acquisition of Pioneer.
The order in question barred Sheffield from joining ExxonMobil's board following the $59.5 billion merger. The FTC's decision to seek public comment indicates an ongoing review of the conditions imposed on the acquisition.
This development is significant as it pertains to regulatory oversight of large-scale mergers and the implications for corporate governance. The outcome of this petition could influence future executive appointments and the terms of M&A approvals in the energy sector.
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