Pioneer Natural completes Parsley Energy acquisition, appoints board members

Pioneer Natural Resources Co. completed its previously announced acquisition of Parsley Energy Inc. after Pioneer and Parsley stockholders approved all proposals needed for closing the all-stock transaction.

Pioneer stockholders and Parsley stockholders voted overwhelmingly in favor of the transaction at special meetings, according to a Jan. 12 news release. Parsley stockholders will receive 0.1252 share of Pioneer common stock for each share of Parsley common stock owned.

The NYSE will no longer list Parsley class A common stock for trading after the close of trading on Jan. 12.

Additionally, in connection with the closing of the deal, Matthew Gallagher and A.R. Alameddine have joined the Pioneer board of directors. Gallagher and Alameddine both served on Parsley's board of directors until the closing of the deal.