Exxon Mobil Research Articles

... while the world's largest deal will create its largest company...

Biggest isn't necessarily the best. The objective is to be best, says Lee R. Raymond, chairman and chief executive officer of Exxon. I have never been in favor of bigness for bigness' sake alone, but there are clearly benefits to having a broader resource base, he notes, as he describes the $78.5 billion merger of Exxon and Mobil. The combination of the two former competitors to form Exxon Mobil Corp. will create a company with annual revenues of about $203 billion. Exxon's shareholders will own about 70% and Mobil's about 30% of the new company, which will have an estimated market capitalization of nearly $240 billion and more than 2 million shareholders. Raymond will become chairman, CEO, and president of the new company, while Lucio A. Noto, Mobil's chairman and CEO, will be vice chairman. Corporate headquarters will be at Exxon's site in Irving, Texas. Mobil's Fairfax, Va., location will be headquarters for ...