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Exxon Mobil Completes Move to Texas, Changes Corporate Structure

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Exxon Mobil (XOM) completed its long-planned reorganization on Wednesday, officially shifting its corporate home to Texas and will begin trading as ExxonMobil Holdings.

The US oil major said in a regulatory filing that the "redomiciliation merger," which became effective on July 1, would reorganize its corporate structure by merging with its Texas-based subsidiary, ExxonMobil Holdings.

Under the transaction, each Exxon share will be exchanged for a share in the new holding company on a one-for-one basis, and the new stock will begin trading under the existing "XOM" ticker on Thursday.

Beyond the corporate shell shift, the energy major said its financial obligations remain largely unchanged.

Price: $135.72, Change: $-1.00, Percent Change: -0.73%

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