Is Exxon buying Imperial Oil?
ExxonMobil does not need to buy Imperial Oil because it already holds a 69.6% majority ownership stake in the company. Imperial Oil operates as a public subsidiary of ExxonMobil, and the two companies maintain a close operational relationship, including jointly operating assets like the Kearl Oil Sands mining operation. As a result, the question of acquisition is not applicable, as ExxonMobil has held controlling interest in this major Canadian petroleum producer for many years.
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