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ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion. As part of the transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips ...
Big Oil keeps doing big deals. ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5.4 billion of debt.
ConocoPhillips (NYSE: COP) made a splash on May 29 when it announced an all-stock acquisition of Marathon Oil (NYSE: MRO).The purchase price represents a 14.7% premium to the closing price of ...
ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits. The deal is valued at $22.5 billion when including $5.4 billion in debt. Crude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week.
As per the agreement, Marathon Oil shareholders will receive 0.2550 ConocoPhillips shares for each share of Marathon Oil they hold. The acquisition price represents a 14.7% premium to the closing ...
After all, Marathon's P/E ratio spiked this week and Conoco's declined in the wake of the deal news. But as of Thursday, Conoco still has a P/E ratio of 13.1 versus Marathon's 11.8.
In 1998, Conoco acquired an interest in 10.5 blocks in the Kashagan Field in the Caspian Sea off Kazakhstan through the North Caspian Sea Production Sharing Agreement (NCSPSA). On November 26, 2012, in its largest acquisition ever, ONGC Videsh agreed to buy ConocoPhillips' 8.4% stake in the Kashagan oilfield for approximately US$5 billion. [14]
In 1998, DuPont sold 30% of Conoco, [23] and in 1999, DuPont sold the remaining 70% stake it holds in Conoco Inc. [24] When the independent Conoco went public in October 1998, under a retooled name, Continental Oil Company, it resulted in the largest IPO in history. [25] [26] In 2001, Conoco announced it has agreed to buy Gulf Canada for C$6.7 ...