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==History==
{{Main|History of ExxonMobil}}
ExxonMobil traces its roots to [[Vacuum Oil Company]], founded in 1866. Vacuum Oil later was acquired by [[Standard Oil]] in 1879, divested from Standard in 1911 with [[Standard Oil Co. of New Jersey v. United States|its breakup]], and merged by the Standard Oil Company of New York (Socony), later known as [[Mobil]], in 1931. After the 1911 breakup, Standard Oil continued to exist through its New Jersey subsidiary, sometimes shortened to Jersey Standard, and retained the Standard Oil name in much of the eastern United States. Jersey Standard grew by acquiring [[Humble Oil]] in the 1930s and became the dominant oil company on the world stage. The company's lack of ownership over the Standard Oil name across the United States, however, prompted a name change to unify all of its brands under one name, choosing to name itself Exxon in 1972 over continuing to use three distinct brands of [[Esso]], [[Enco (brand)|Enco]], and Humble.<ref>{{Cite web |last=for the City of Rochester |date=September 1990 |title=Detailed Historical Site Assessment of the Vacuum Oil Company's facilities and locations |url=https://www.dec.ny.gov/data/DecDocs/C828218/Application.BCP.C828218.1990-09-01.Detailed%20Historical%20Site%20Assessmwnt%20Vacuum%20Oil%20Site.pdf |access-date=May 8, 2023 |website=New York Department of Environmental Conservation}}</ref><ref name="Kumar 2019 101–109">{{Citation |last=Kumar |first=B. Rajesh |title=ExxonMobil Merger |date=2019 |work=Wealth Creation in the World's Largest Mergers and Acquisitions: Integrated Case Studies |pages=101–109 |editor-last=Kumar |editor-first=B. Rajesh |url=https://link.springer.com/chapter/10.1007/978-3-030-02363-8_9 |access-date=September 15, 2022 |series=Management for Professionals |place=Cham |publisher=Springer International Publishing |language=en |doi=10.1007/978-3-030-02363-8_9 |isbn=978-3-030-02363-8 |s2cid=239577792 |issn = 2192-8096}}{{Subscription required}}</ref>
In 1998, the two companies agreed to merge and form ExxonMobil, with the deal closing on November 30, 1999. The two companies cited lower oil prices and a better ability to compete with other state-owned oil companies outside of the United States like [[Pemex]] and [[Saudi Aramco|Aramco]]. With the deal, the two companies practically merged, with the new company's name containing both of the trade names of its immediate predecessors. However, the structure of the merger provided that Exxon was the surviving company and bought Mobil, rather than a new company being created.<ref name="Kumar 2019 101–109" /><ref>{{cite web |url=https://www.latimes.com/archives/la-xpm-1998-dec-02-mn-49856-story.html |title=Exxon and Mobil Agree to Biggest Merger Ever |last=Brooks |first=Nancy Rivera |date=December 2, 1998 |website=Los Angeles Times |language=en-US |access-date=April 8, 2020}}</ref><ref>{{Cite web |title=The Exxon - Mobil Merger Controversy{{!}}Business Strategy{{!}}Case Study{{!}}Case Studies |url=https://www.icmrindia.org/casestudies/catalogue/business%20strategy2/Business%20Strategy%20The%20Exxon-Mobil%20Merger%20Controversy.htm#:~:text=Many%20reasons%20lay%20behind%20the,reasons%20behind%20the%20mega%20merger. |access-date=2023-05-09 |website=www.icmrindia.org}}</ref><ref>{{Cite web |title=U.S. to Allow Mobil Deal With Exxon |url=https://www.washingtonpost.com/wp-srv/WPcap/1999-11/28/076r-112899-idx.html |access-date=2023-05-09 |website=www.washingtonpost.com}}</ref>
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