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.

PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Organizational nomenclature, Mergers, acquisitions and divestments, Petroleum industry, Abstract, XON, Exxon Mobil Corp., Mobil Corp., MOB

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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

United Kingdom, Water Supply and Irrigation Systems, Foreign operations, Company Planning/Goals, Natural Gas Distribution, Water Utilities, Gas Transmissn & Distributn, Gas industry, Enron Corp., Wessex Water PLC, Article

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