Consumer groups voice opposition to Exxon-Mobil merger

Although the merger of Exxon Corp. and Mobil Corp. is widely expected to clear the final hurdle of US Federal Trade Commission approval at any time, not all observers view the transaction as beneficial. Last week, two consumer groups held a press conference in Washington, DC, to voice their opposition to the merger. Ultraliberal Sen. Paul Wellstone (D-Minn.) appeared on their behalf, saying the oil industry is setting a pattern of consolidations that ultimately will leave only a few "megacompanies.""If Exxon Mobil were a country, it would have the 18th largest economy in the world," he said. "Time has shown that one merger begets another. If this one is approved, more will follow. FTC nee...

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