On Friday night, after Bloomberg reported based on its sources that Pioneer Natural Resources (PXD) was considering an acquisition of Range Resources (RRC), Pioneer Natural Resources issued a company update, stating: "Pioneer Natural Resources Company announced today that the company is not contemplating a significant business combination or other acquisition transaction." In Monday pre-market trading, Range Resources shares are down 8% to $26.00 while Pioneer shares are up $4.33, or 2%, to $200.90.
Published first on TheFly
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