Exxon and Mobil announce $80 billion deal to create world's largest company; 9,000 to lose jobs; plan to link oil giants will draw close look from U.S. officials
Article Abstract:
This country's two largest oil companies, Exxon and Mobil, will merge to become the world's largest company. Exxon will pay $80 billion to acquire Mobil, assuming all approvals needed are given. Some analysts doubt the approvals will be given. If it happens, a major economy will be the combining of workforces that will be reduced by about 9,000 people. The firm would take on the name of Exxon Mobil and have combined sales of $204 billion.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Enron to buy British water company
Article Abstract:
The Enron Corporation said that it has acquired Wessex Water PLC, a British water and sewage firm, for $2.2 billion in cash. Enron intends to use the acquisition as a base for its worldwide expansion. Some analysts had said that Wessex had limited growth potential for it to be purchased for $2.2 billion. However, Enron claimed that Wessex was vital to its attempts to expand into the water market.
Comment:
Enron Corporation acquires Wessex Water PLC, a British water and sewage firm, for $2.2 billion in cash
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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