ConocoPhillips (COP) , the U.S. oil giant, has announced a definitive agreement to acquire Marathon Oil Corporation (MRO) in an all-stock transaction valued at $22.5 billion, including $5.4 billion of net debt. This strategic move is set to be immediately accretive to ConocoPhillips’ earnings, cash flows and return of capital per share.Key Details of the AcquisitionPer the terms of the deal, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil co ...

The oil industry's merger wave continues.A consolidation wave continues to wash over the oil patch. ExxonMobil kicked off the current boom in mergers and acquisitions last year with its recently closed $60 billion deal for Pioneer Natural Resources. Rival Chevron followed with its acquisition of Hess, which it hopes to close in the coming months. The sector has seen several smaller transactions as oil companies pair up to enhance their positions and reduce costs. The latest industry tie-up will see ConocoPh ...

A view of a Marathon gas station in Baltimore, Maryland on May 29, 2024. US energy giant ... [+] ConocoPhillips announced on May 29 that it will acquire competitor Marathon Oil in an all-stock transaction valued at $22.5 billion, including $5.4 billion in debt, a major expansion despite pressure to move away from fossil fuels. (Photo by Jim WATSON / AFP) (Photo by JIM WATSON/AFP via Getty Images)AFP via Getty ImagesConocoPhillips ConocoPhillips announced plans to acquire Marathon Oil Marathon Oil Corporatio ...

Here's why the oil and gas company is a buy after today's price drop.Shares of ConocoPhillips (COP -3.94%) tumbled this morning and were trading 3.5% lower as of 11:30 a.m. ET on Wednesday.With several of its peers on a buying spree in recent months, today's big announcement from ConocoPhillips shouldn't have surprised investors. The oil and gas company is acquiring a peer in a multibillion-dollar deal and expects the acquisition to create long-term value for shareholders.ConocoPhillips will acquire Maratho ...

ConocoPhillips Chairman & CEO Ryan Lance speaks during the CERAWeek oil summit in Houston, Texas, on ... [+] March 19, 2024. (Photo by Mark Felix / AFP) (Photo by MARK FELIX/AFP via Getty Images)AFP via Getty ImagesSome of us are old enough to remember when Conoco, Phillips Petroleum, and Marathon were three separate companies, all of which were fully integrated majors. Conoco and Phillips, both originally based in Oklahoma, merged in 2002 to become ConocoPhillips.Ten years later, in 2012, ConocoPhillips sp ...

Another big M&A announcement in the oil patch is making news after ConocoPhillips (COP) said it will buy Marathon Oil (MRO) for $17.1 billion in stock. The deal includes $5.4 billion in debt, bringing the enterprise value of the transaction to approximately $22.5 billion. The purchase price represents a roughly 15% premium to Marathon stock's May 28 close at $26.45, sending its share price up by more than 9% Wednesday. COP stock, meanwhile, is down about 3%.Under the agreement, Marathon shareholders will re ...

Key TakeawaysMarathon Oil stock is surging Wednesday following the announcement that ConocoPhillips will acquire it for $22.5 billion including debt.Marathon shareholders will receive 0.255 shares of ConocoPhillips for each share of Marathon they own, with the deal expected to close in the fourth quarter of 2024.ConocoPhillips is also raising its dividend starting in the fourth quarter, and plans to boost its buyback program once the acquisition closes. Marathon Oil (MRO) stock jumped at the opening bell We ...

ConocoPhilips (NYSE:COP) has announced an all-stock deal to acquire Marathon Oil (NYSE:MRO.Marathon shareholders to get 0.255 of a ConocoPhilips share for each Marathon share. This is a 14.7% premium to Marathon’s May 28 closing price.ConocoPhilips was trading near $117 on May 29. That would make the price of the deal $29.84 for each Marathon share. Marathon Oil stock was trading early on May 29 at $29.07.Last Dance for OilOil companies have been buying each another for the last few years to lower costs and ...

Once again, the price of West Texas Intermediate (WTI) crude oil has surpassed the $80 per barrel threshold and is likely to remain robust this year. According to projections by the U.S. Energy Information Administration (“EIA”), WTI oil is expected to average $83.05 per barrel in 2024, a notable increase from last year's $77.58. Contributing to the strength of commodity prices are voluntary production cuts from the OPEC+ group and ongoing geopolitical tensions.  While crude prices remain favorable, the lik ...

ToplineConocoPhillips plans to buy fellow American energy giant Marathon Oil in an all-stock deal worth a total of $22.5 billion, the companies announced Wednesday, marking the latest in a string of multibillion-dollar mergers and acquisitions deals in the energy industry. A ConocoPhillips oil field in Alaska in 2019.The Washington Post via Getty Images Key FactsThe all-stock deal values Marathon Oil at $17.1 billion, knocking off the $5.4 billion in debt included in the total transaction value for the Hous ...