ConocoPhillips Acquires Marathon Oil in $17.1 Billion Deal
TL;DR
ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $17 billion, expanding its presence in US shale fields and adding reserves in Equatorial Guinea. The acquisition, which offers a 14.7% premium on Marathon's last closing share price, is part of a broader trend of consolidation in the oil and gas industry. The deal, expected to close in the fourth quarter pending regulatory approval, will add 2 billion barrels to ConocoPhillips' inventory and increase its share buybacks and dividends.
- ConocoPhillips to Acquire Marathon Oil in $17 Billion Deal Yahoo Finance
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- ConocoPhillips to Acquire Marathon Oil in $17.1 Billion All-Stock Deal The Wall Street Journal
- ConocoPhillips buys Marathon Oil for $17.1 billion as energy giants scale up CBS News
- Why a ConocoPhillips/Marathon Oil merger may be the last among the majors MarketWatch
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