Only two days after Exxon Mobil Corp. reported the highest annual earnings of any company in U.S. history, some prominent lawmakers are asking whether it’s time to break up oil conglomerates formed through mega-mergers in the past several years.
“We have seen extraordinary concentration in the energy industry. We’ve had a string of consolidations which are really staggering,” said Sen. Arlen Specter, R-Pa. “I am somewhere between impressed and astounded by these profits, and it raises big questions about whether something needs to be done in the merger and acquisitions field,” he said.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
