ConocoPhillips (COP) to Buy Marathon Oil in a $22.5B Transaction
ConocoPhillips(COP) ZACKS·2024-05-30 20:21
ConocoPhillips (COP) , the U.S. oil giant, has announced a definitive agreement to acquire Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. This strategic move is set to be immediately accretive to ConocoPhillips’ earnings, cash flows and return of capital per share.Key Details of the AcquisitionPer the terms of the deal, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil co ...