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. Last Updated: 07/27/2016

Oil Merger Approved

DALLAS -- Stockholders of Exxon Corp. and Mobil Corp. have overwhelmingly approved combining the two companies to create the world's biggest investor-owned oil company.

The deal calls for Exxon to acquire Mobil in a deal valued at $87 billion, making it the largest corporate takeover in history. Terms of the deal call for Mobil stockholders to receive 1.32015 shares of Exxon stock for each Mobil share.