December 1, 1998 (October 13) Tiger years, Exxon is a large amount of money acquisitions Mobil Corporation.



1998 December 1, 2011, the U.S. Exxon oil to $ 77.2 billion acquisition of Mobil Oil.
1998, the oldest of the U.S. oil industry, Exxon contributed $ 76.6 billion to buy a second child Mobil.
This is the world's largest ever merger. It greatly exceed the scale of BP plans to contribute $ 57.1 billion purchase of Amoco, so that became a hit Citibank dwarfs the $ 72.6 billion merger of Travelers Group transactions. Exxon Mobil Corporation
marriage after the first big companies to become global annual sales calculation, picked the crown of the world's largest energy companies of the Royal Dutch Shell oil company, also claimed the General Motors Corporation The throne of the world's largest industrial company. New oil empire in the world with 48,500 gas stations, operating in the worldwide oil exploration, production and processing business, up to 160 million barrels per day of crude oil production capacity. Two company employs 120,000 phase Jakarta $ 202.3 billion in 1997 sales, profits of about $ 11.8 billion.
Exxon acquired Mobil, cited two main reasons: First, in recent years, global oil production overcapacity, stagnant consumption, lower oil prices, the market situation is grim. The second is to reduce costs, improve efficiency, and further enhance the advantages in international competition. Exxon Mobil Corporation official said that after the merger, the new company will be able to save $ 2.8 billion in expenses; employees will be reduced by 9000, accounting for about 7% of the total number of employees. The first year after the merger, the profit of the company will maintain its original level, the second year of the company's business situation will be greatly improved.
Exxon's predecessor Standard Oil of New Jersey, Mobil predecessor Standard Oil of New York. They are one of the "Seven Sisters" Rockefeller oil empire. In 1911, the United States government for antitrust reasons, the Rockefeller oil group split into seven. Now, Exxon and Mobil reunited, the antitrust natural concern. The Senate antitrust Chairman called the marriage "worrying". The merger of Exxon and Mobil also need to get the examination and approval of the government, it is estimated will not encounter much resistance, because the Clinton administration in recent years to relax antitrust restrictions on domestic enterprises, encourage enterprises to carry out the merger, to form a more and more globally competitive company. In fact, in recent years, emerging tide of mergers in the United States is the product of such a policy. the chairman of Exxon
, Raymond (left) and chairman of Mobil Corporation, at a press conference on the Noto