Business file: The magic of the merger 1998 was undoubtedly the year of merger . More companies than ever before joined together in deals that totaled $ 2.25 trillion and created the world’s largest ever bank and the world’s biggest oil company. Faced with plummeting oil prices, oil giants Exxon and Mobil sought to achieve economies of scale through a $250 billion merger. Business file: The magic of the merger 1998 was undoubtedly the year of merger . More companies than ever before joined together in deals that totaled $ 2.25 trillion and created the world’s largest ever bank and the world’s biggest oil company. Faced with plummeting oil prices, oil giants Exxon and Mobil sought to achieve economies of scale through a $250 billion merger.
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