ConocoPhillips to Proceed With $22.5M Acquisition of Marathon Oil
COPConocoPhillips(COP) ZACKS·2024-08-31 01:56

ConocoPhillips (COP) received shareholder approval to move forward with its planned merger with Marathon Oil Corporation (MRO) .The all-stock transaction, valued at $22.5 billion and including $5.4 billion in net debt, was initially announced in May 2024. The merger is expected to close by the end of the fourth quarter of 2024.Under the terms of the deal, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock.ConocoPhillips emphasized ...