This is just a rumor but increasing making sense now. XOM's chemical business will be spun off as well.
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Lol that would be like a fly eating an elephant
Had a father-in-law who worked for a small name refiner. They got bought by Chevron, Chevron raided the pension fund, and then sold the refinery.
We're living in fun times, my friends.
Darrin Woods, “zig while others zag”, ie- spend heavy in the down cycle, loaded Exxon Mobil with debt and cost many people their jobs, but Darrin doesn’t care, he got paid, kept his job, and doesn’t need to take ownership of his poor misguided decisions. Darrin is a prime example of the Peter Principle in action.
Nobody wants this dumpster fire.
Exxon is to top heavy on management by about 40%, if they get rid of this deadwood they might survive but the CEO struggles to see the need to downsize on the top by 40 and will settle for 20% which will sink the company. Need a man with steel balls that can handle the tough times like Lee Raymond.
Duhhh it's the theme of the next Borat movie and it begins with DW caught with his hands in his pants.
If Chevron does that best believe they will obliterate the Exxon name.
@ekq - I agree that this is the only approach that makes any sense. Asset-by-asset. Too much duplication for either to purchase the other, especially in a depressed O&G market.
@ath - I disagree with your statement. The management of EM is nothing like the management of Exxon, pre-merger. It got a lot worse for both sides, especially since management became "woke".
The Burger King leased facility around the corner will buy it. Why jeopardize future of Chevron?
Walmart will buy Exxon and sell off assets to Oxy and Conocophillips. You heard it here first.
Tesla buys ExxonMobil and moves it’s headquarters to spring tx. Makes a plan to transition all employees to EV and roof solar businesses in 5-10 years.
Can you elaborate on the Chemicals business spin of?
Google buys XOM and Chevron and shuts everything down.
ExxonMobil will be divesting a lot of assets and it's highly likely that Chevron would buy them. Chevron is not that stupid to acquire Exxon as a company, although I know that both have similar culture and environment. Chevron is more ethical though.
both management will clash. Let's watch the drama cat fights.
Might make sense on paper, but I can’t see US regulators letting it happen.
Not going to happen, too many downsides for cvx to buy xom. There has to be something of super value at xom that they don’t have already.
Also, the id–ts on the board and the govt won’t let that happen.
Hey I can make outlandish predictions to: Exxon will own Chevron by year's end.
Why would chevron take on a debt ridden company that can't cover expenses to be profitable?
As long as it's not like the Exxon Mobil merger. Mobil had better management and policies but Exxon ruined that. If Chevron is the top dog here I would think that would be good.
I’m a shareholder of both. I hope not. Exxon management is plain.. nasty... bad for Chervon
Yes! This is the only way to get rid of the layers of supervisors and managers at XOM.