Does anyone know the financial aspects of this acquisition. Was still Exxon paying $252/share for Pioneer stock?
Or has that purchase amount gone up as Pioneer stock has gone up?

I own stock in both companies so overall is a good deal for me..

It wasn't a cash deal so the price of PXD at close doesn't matter. It was an all stock deal that converted all PXD stock to XOM upon close at an agreed upon conversion factor.

The 252 was based upon XOMs stock price at deal announcement. You got an slotted number of shares for every PXD share.

Thanks to you both.

I have held Exxon stock in my portfolio for a long time. I've not really dug into the details of this acquisition. I presume this is a good move on Exxon's part but would welcome other's thoughts. Thanks in advance.

It's about 2.3 shares of Exxon stock for every share of PXD.

2.3234 to be exact. Your brokerage should have already converted your PXD shares to XOM at that rate

Sort of a niche question about this. I used to work at PXD and I never rolled my old 401k. It's at Vanguard and due to my IRA being 100% Roth I didn't want to roll it over and have to pay the tax on it. Anyone have an idea of what will happen to it now? I also have some PXD Stock Fund shares in it (different than actually owning PXD from what I know). I guess that fund now holds Exxon stock?

In reply to GarlandAg2012 Exxon might push that all former Pioneer employees start paying a monthly fee to administer your plan. Vanguard will make it easy to roll it into a vanguard managed IRA, and very difficult to take it to a different administrator.

In reply to one MEEN Ag

one MEEN Ag said:

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Exxon might push that all former Pioneer employees start paying a monthly fee to administer your plan. Vanguard will make it easy to roll it into a vanguard managed IRA, and very difficult to take it to a different administrator.

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I've been slowly moving my accounts from Vanguard over to Schwab and Vanguard hasn't made things difficult at all. They are however implementing a $100 fee on July 1st for account transfers and closures which has accelerated my timeline. It just confirmed my choice to move away from Vanguard accounts; they act like they don't give a crap about being a broker and just want to run their funds.

In reply to GarlandAg2012

GarlandAg2012 said:

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Sort of a niche question about this. I used to work at PXD and I never rolled my old 401k. It's at Vanguard and due to my IRA being 100% Roth I didn't want to roll it over and have to pay the tax on it. Anyone have an idea of what will happen to it now? I also have some PXD Stock Fund shares in it (different than actually owning PXD from what I know). I guess that fund now holds Exxon stock?

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off topic, but open a traditional IRA and roll the XOM shares there via a trustee to trustee transfer

In reply to 2wealfth Man Only issue would be that if he needed to do a backdoor Roth he wouldn't be able to without dealing with Pro-rata rule. Never have a Trad IRA when doing backdoor IRAs if you can help it. Of course he may not be doing that, might already have a Trad, etc.

In reply to File5

File5 said:

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Only issue would be that if he needed to do a backdoor Roth he wouldn't be able to without dealing with Pro-rata rule. Never have a Trad IRA when doing backdoor IRAs if you can help it. Of course he may not be doing that, might already have a Trad, etc.

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I have a trad IRA but I have only ever used it for backdoors into my Roth IRA so it is empty most of the year. I asked my tax pro and apparently I am able to just roll the Trad portion of my 401k (company match was trad, my part was Roth) directly into my Roth IRA (once I pay taxes on it) and also roll my Roth 401k into the Roth IRA (tax free since it is already taxed) and be done with it and then have everything in Roth and an empty Trad IRA for future backdoors.

I have an overpayment on my taxes for 2023 I can just roll forward (I only extended for 2023 for now) that will cover the tax on the rollover and I think this is the year I will be in my lowest marginal tax bracket for a while, so I don't really see a downside to doing this.

Anyone see something I'm missing?