Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened On Nov. 30, 1999, a $73.7 billion merger between Exxon and Mobil Oil established the largest company in the world. Where the Market Was The S&P 500 shares closed 1.90 percent lower at $4,567.00 and the Dow Jones Industrial Average shares closed 1.86 percent lower at $34,483.72. What Else Was Going On In the World Anti-globalization protesters pressured the World Trade Organization to cancel the opening ceremonies of its Seattle meeting, and Russian President Boris Yeltsin was preparing his year-end resignation resulting in Vladimir Putin’s rise. Exxon Mobil Gets Its Start With a 4–0 vote of approval from the Federal Trade Commission, Exxon Mobil Corporation (XOM) was officially formed to protect the entities from crude oil price pressure and the rise of overseas rivals. The world’s No. 1 and No. 2 …
This Day in Market History: Exxon-Mobil Merger Creates Largest Company in the World
November 30, 2021
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