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Exxon and Mobil Merge

This week's In the News looks at the recent megamerger between Exxon Corporation and Mobil Corporation. The ten resources discussed provide news, financial data, and opinion on the largest corporate purchase to date as well as information on the oil industry in general. In a move deemed "the end of the age of OPEC" by Wall Street Journal reporter Bernard Wysocki, Exxon Chairman Lee R. Raymond formally bought Mobil Oil Company for $74.4 billion on December 1, 1998. Critics of the deal await antitrust scrutiny, although officials at Exxon Mobil, as the new company will be called, cite a "volatile world economy" and the need to "enhance global competition" as central to their decision.
Alternate Title
In The News: Exxon and Mobil Merge
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Date of Scout Publication
December 3rd, 1998
Date Of Record Creation
April 7th, 2003 at 1:24pm
Date Of Record Release
April 7th, 2003 at 1:24pm
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