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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.
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Alternate Title In The News: Exxon and Mobil Merge
Date Issued c1998
Scout Publication
Date of Scout Publication 1998-12-03
Archived Scout Publication URL

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