Key Takeaways Marathon Oil stock is surging Wednesday following the announcement that ConocoPhillips will acquire it for $22.5 billion including debt. Marathon shareholders will receive 0.255 shares of ConocoPhillips for each share of Marathon they own, with the deal expected to close in the fourth quarter of 2024. ConocoPhillips is also raising its dividend starting in the fourth quarter, and plans to boost its buyback program once the acquisition closes. Marathon Oil (MRO) stock jumped at the opening bell ...