ConocoPhillips announced plans to acquire Marathon Oil Corporation through an all-stock transaction valued at $22.5 billion, including $5.4 billion in net debt. Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock, reflecting a 14.7% premium over Marathon’s closing share price on May 28, 2024, and a 16.0% premium to the 10-day volume-weighted average price. The deal, subject to Marathon Oil shareholder approval, regulatory clearance, and customary closing conditions,…
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