US high court gets Mobil plea to acquire Marathon
Washingtonk — Mobil Oil Corporation is making a last-ditch stand at the US Supreme Court in its controversial effort to acquire Marathon Oil Corporation. The bitter corporate struggle for control of Marathon, which began two months ago, reached the Supreme Court when Mobil asked the court to stop US Steel from buying up Marathon's stock next week.
There was no indication how soon the Supreme Court would act on Mobil's application.
Mobil and US Steel have made competing offers to acquire controlling interest in Marathon. Marathon corporate officers have vigorously opposed Mobil's takeover bid and support US Steel's acquisition plan.