Marathon (MRO) Shareholder Contests Merger With ConocoPhillips

Marathon Oil (MRO) shareholder Martin Siegel has filed a lawsuit to stall the proposed acquisition of the company by ConocoPhillips (COP) , one of the largest exploration and production companies globally. The investor argued that the proposed acquisition deal significantly undervalues Marathon.The acquisition was announced in May 2024, with ConocoPhillips agreeing to buy Marathon for approximately $22.5 billion. The price includes$5.4 billion of net debt. Siegel stated that the shareholders of Marathon co ...