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Article: New Jersey, New York Sell-Off Needed for Exxon-Mobil Merger Approval.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 23, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Nov. 24 -- Mobil will be forced to sell off all its New Jersey stations and Exxon will have to do the same in New York to gain government approval for their $81 billion merger, an oil industry newsletter reports.
The two oil industry giants could be forced to shed as many as 2,400 stations, or 15 percent of their nationwide networks of 15,700 stations, to win approval from the Federal Trade Commission, The Oil Express said in this week's edition.
Included are 1,510 Mobil stations in New Jersey, Pennsylvania, Delaware, Maryland, Virginia, and Washington, D.C., and 520 Exxon outlets in New York and New England. ...