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Marathon shareholders will receive 0.255 shares of ConocoPhillips per Marathon share, amounting to a 16% premium, given the two companies' share prices before the announcement.
The purchase price represents a 14.7% premium to the closing price of Marathon on May 28, giving the company an enterprise value (market cap plus debt) of $22.5 billion.
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 ...
Marathon Oil shareholders will receive 0.255 ConocoPhillips shares for each Marathon share they own, representing a 14.7% premium to the closing price on Tuesday. Shares of Marathon were up more ...
Oil prices bounced around quite a bit in 2024. They rallied more than 20% at one point -- topping $85 per barrel -- before cooling off toward the end of the year. Oil was recently below $70 a ...
The only miss was on capex, Marathon had to raise their guidance from $1.3 billion to $1.4 billion for the year. Free Marathon Oil's Solid Balance Sheet & Shareholder Returns Prompt 30% Price ...
In July 2024, Marathon agreed to a $241.5 million settlement with the US Department of Justice and the Environmental Protection Agency to resolve allegations of failing to obtain required permits at dozens of the company's oil and gas facilities on the Fort Berthold Indian Reservation in North Dakota and releasing thousands of tons of illegal air pollution as a result. [30]
ConocoPhillips's plans to acquire independent oil and gas producer Marathon Oil in an all-stock deal for $22.5 billion including debt continues a recent string of deals in the energy space.