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"According to Expansion (2020), one of the two largest mergers from U.S. companies in foreign markets are Exxon and Mobil where they are the first and second largest oil producers in the United States.

Some of the pros of these mergers include improved earnings stability, falling oil prices, long term capital productivity, and enhanced competitive advantage in technology (ICMR, 2015). Some of the cons of these mergers were liability exposure, long term bets, politics, and verdicts from investors (Ttaulli, 2011). The impact of IHRM function when developing strategic business practice includes the potential for acquisition of valuable assets, upstream projects and capex, refining margins, credit rating risk, and risk from political correctness and climate change (Bourgeault, 2016).

The business considerations that are needed to adapt to such a changing environment across borders included the climate change and cleaner energy. Understanding Krauss (2021), Exxon decided to help the public with dealing the carbon dioxide issues, so they can grow a long-term shareholder value and succeed in a lower carbon future. Exxon decided to build a business that captures carbon dioxide from industrial plants to bury the carbon dioxide deep underground, which may potentially cost $100 billions of dollars (Krauss, 2021). An event like this which involves the public demands is part of the adaptation that Exxon and Mobil must maintain.

Reference:

Bourgeault, G. (2016). Exxon Mobil – pros and cons investors need to consider when looking ahead (NYSE:XOM). SeekingAlpha. Retrieved April 4, 2022, from https://seekingalpha.com/article/3825876-exxon-mobil-pros-and-cons-investors-need-to-consider-when-looking-ahead 

Expansion, G. (2020). The 7 biggest mergers and acquisitions. Global Business Expansion, PEO and EOR Services. Retrieved April 4, 2022, from https://www.globalexpansion.com/blog/the-largest-mergers-and-acquisitions 

ICMR. (2015). The Exxon – Mobil Merger Controversy. The Exxon – Mobil Merger Controversy|Business Strategy|Case Study|Case Studies. Retrieved April 4, 2022, from https://www.icmrindia.org/casestudies/catalogue/business%20strategy2/Business%20Strategy%20The%20Exxon-Mobil%20Merger%20Controversy.htm 

Krauss, C. (2021). Exxon Board to get a third activist pushing cleaner energy. The New York Times. Retrieved April 4, 2022, from https://www.nytimes.com/2021/06/02/business/exxon-board-clean-energy.html 

Ttaulli. (2011). Exxon Mobil (XOM) shares — 3 pros, 3 cons. InvestorPlace. Retrieved April 4, 2022, from https://investorplace.com/2011/04/exxon-mobil-xom-shares-3-pros-3-cons/ "