ConocoPhillips acquires Marathon Oil in an all-stock deal with a 14.7% premium, valued at $22.5bn.
ConocoPhillips (COP) makes a second major acquisition in four years, purchasing Marathon Oil (MRO) in an all-stock deal with a 14.7% premium. The combined enterprise value is $22.5bn. ConocoPhillips, known for measured spending and financial stability, completed a similar acquisition in 2021. The oil industry has seen a wave of M&A amidst high profits, but ConocoPhillips' strong balance sheet and controlled expenses could make it a worthwhile dividend stock investment.
June 02, 2024
5 Articles