Another Oil Megadeal: ConocoPhillips Agrees On Buying Marathon In $23 Billion Deal
COPConocoPhillips(COP) forbes.com·2024-05-29 21:30

Topline ConocoPhillips plans to buy fellow American energy giant Marathon Oil in an all-stock deal worth a total of 22.5billion,thecompaniesannouncedWednesday,markingthelatestinastringofmultibillion−dollarmergersandacquisitionsdealsintheenergyindustry.AConocoPhillipsoilfieldinAlaskain2019.TheWashingtonPostviaGettyImagesKeyFactsTheall−stockdealvaluesMarathonOilat22.5 billion, the companies announced Wednesday, marking the latest in a string of multibillion-dollar mergers and acquisitions deals in the energy industry. A ConocoPhillips oil field in Alaska in 2019. The Washington Post via Getty Images Key Facts The all-stock deal values Marathon Oil at 17.1 billion, knocking off the $5.4 billion in debt included in the total transaction value for the H ...