Best Business Mergers Of All Time

Exxon and Mobil
Exxon and Mobil signed an $81 billion agreement to merge and form ExxonMobil in 1999. Historically, both Exxon and Mobil had descended from the John D. Rockefeller Corporation, Standard Oil (established 1870).Exxon was formerly Standard Oil Company of New Jersey and Mobil was Standard Oil Company of New York. The merger was a controversial one with the Federal Trade Commission investigating the possible price manipulations that would follow the merger of Exxon (then ranked number 1) and Mobil, the number 2 ranked player in the field. The commission advised extensive restructuring. Exxon and Mobil sold more than 2,431 stations across the country to comply with FTC demands. The two together formed one the most powerful oil companies of the world. It is one of the world’s largest publicly held companies. In 2008, ExxonMobil figured prominently in the “Top 10 Corporate Quarterly Earnings” (earning more than $11 billion in one quarter).ExxonMobil is ranked the fourth largest oil producing company with a production of 5.3 million barrels per day. It has sales of $400 billion dollars with $40 billion annual profit.