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Exxon Mobil Corporation (NYSE: XOM) |
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| Analyst Reviews / Recommendations March 14, 2008 - Credit Suisse raises Exxon Mobil to 'Outperform' with $102 Price target April 23, 2007 -Deutsche Bank downgrades ExxonMobil (XOM) to Hold July 31, 2006 - J.P Morgan raised ExxonMobil to an overweight from neutral April 21, 2006 - A.G. Edwards raised its price target on Exxon Mobil Corp. to $72 from $69 | Earnings Reports & Earnings Related SEC Filings Exxon Mobil Corp Exxon Mobil 2002 Annual Report Exxon Mobil 2001 Annual Report Exxon Mobil 2000 Annual Report Imperial Oil Ltd. Historical Exxon Historical Mobil | SEC Filings What are all these SEC form numbers? From Exxon and Mobil Merger 1999 Proxy Statement - Prospectus | Message Boards ExxonMobil StockHouse Bullboards - Not active | Email / Contacts Shareholder Investment Program Media Relations of Exxon Mobil Corporation, (972)444-1107 (800)252-1800 |
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The ExxonMobil History and 1999 Merger Story
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History In The Making:
The Exxon and Mobil merger reunited the biggest pieces of John D. Rockefeller's Standard Oil monopoly.
In 1868, the Standard Oil Company was organized in Pittsburgh, Pennsylvania. In 1870, the Standard Oil Company was incorporated in Ohio. Through a series of acquisitions in a variety of petroleum interests, Rockefeller, in 1882, organized them in New Jersey under the Standard Oil Trust moniker. That same year marked the incorporation of two refining and marketing organizations -- Standard Oil Co. of New Jersey and Standard Oil Co. of New York. "Jersey Standard" and "Socony," as they were commonly known, were the chief predecessor companies of Exxon and Mobil, respectively. Within a decade, the Standard Oil Trust controlled 90 percent of all oil produced in the United States. The federal government brought suit against the Trust under the Sherman Anti-Trust Act, and in 1911, the Supreme Court broke up Standard Oil into 33 companies. Eight of those retained the "Standard Oil" moniker. The newly independent Vacuum Oil Company and Standard Oil Company of New York (Socony) separately marketed fuels throughout the world until 1931 when the two merged. In 1955, Socony-Vacuum became Socony Mobil Oil Co. and, in 1966, simply Mobil Oil Corp. Meanwhile, Jersey Standard acquired a 50 percent interest in Humble Oil & Refining Co. and marketed fuels under multiple brand names including Esso, Enco, Standard, and Humble. In 1972, Jersey Standard changed its name to Exxon Corporation and established Exxon as an uncontested trademark throughout the United States. In other parts of the world, Exxon and its affiliated companies continued to use its long-time Esso trademark and affiliate name. In 1998, Exxon and Mobil signed a definitive agreement to merge and form a new company called Exxon Mobil Corporation. After shareholder and regulatory approvals, the merger was completed November 30, 1999. The merged company, Exxon Mobil Corporation is now based in Irving, TX with major U.S. divisional offices in Fairfax, VA and Houston, TX. It employs a combined 106,000 people worldwide. At the completion of the merger, the company had about 7 Billion shares outstanding with a Market Capitalization of just under $280 Billion. Some of the other formerly well known "Standard Oil" companies include BP (which purchased Amoco formerly Standard Oil of Indiana, also purchased SOHIO formerly Standard Oil of Ohio). Chevron Texaco (specifically Chevron) which was formerly Standard Oil of California & Standard Oil Of Kentucky. Continental Oil Company became Conoco and presently under the umbrella of ConocoPhillips. In 1966 Atlantic Refining merged with Richfield to become ARCO. Subsequently, in 1985, ARCO divested its East Coast marketing and refining operations which, in turn, was eventually acquired by Sunoco. A significant remainder of ARCO is now part of BP Corporation. |
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