Exxon Set to Win FTC Approval for Pioneer Deal on Settlement (4)

The US Federal Trade Commission is poised to greenlight Exxon Mobil Corp.’s $60 billion purchase of Pioneer Natural Resources Co. after the companies agreed that Pioneer’s co-founder and former chief executive officer won’t join the board, according to people familiar with the matter.

The FTC found evidence that Scott Sheffield sought to communicate with the Organization of the Petroleum Exporting Countries and others about oil pricing and output, according to one of the people, who asked not to be named because the information isn’t public.

Exxon and Pioneer declined to comment.

An announcement may come within days, the people ...