ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices rise

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As part of the transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own, the companies said Wednesday. “This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory adjacent to our leading U.S. unconventional position,” ConocoPhillips Chairman and CEO Ryan Lance said in a prepared statement.

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ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices riseConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits. The deal announced Wednesday is valued at $22.5 billion when including $5.4 billion in debt. Marathon Oil shareholders will receive 0.
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ConocoPhillips buying Marathon Oil for $17.1 billion in all-stock deal as energy prices riseConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices soar and big oil companies reap massive profits.
Source: ksatnews - 🏆 442. / 53 Read more »