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Article: Exxon, Mobil Agree to Sell Stations in Return for Merger Approval.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- November 30, 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
Dec. 1 -- The Federal Trade Commission approved the $81 billion merger Tuesday of Irving-based Exxon Corp. and Mobil Corp., creating an energy behemoth that is the largest publicly traded oil company in the world.
The two companies agreed to a consent order that will require the new Exxon Mobil Corp. to cut its ties to 2,431 gas stations, including 319 in Texas owned or supplied by Mobil. However, the Mobil name may be slow to disappear in Texas markets. The FTC order allows stations to keep using the Mobil brand, credit cards and gasoline additives for up to 10 years.
The FTC also ordered Exxon Mobil to sell ...