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ConocoPhillips Stock Price Surges Over 10% Post-Acquisition Announcement by End of 2024?
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Story
ConocoPhillips in Advanced Talks to Acquire Marathon Oil in $15 Billion All-Stock Deal
May 29, 2024, 06:35 AM
ConocoPhillips is in advanced talks to acquire Marathon Oil in a potential all-stock deal. The acquisition would value Marathon Oil, headquartered in Houston, at just over $15 billion, slightly above its current market value. The discussions are ongoing, and while the deal could still fall apart, it represents a significant move in the energy sector. Marathon Oil shares have risen in premarket trading following the news. ConocoPhillips trades under $COP and Marathon Oil under $MRO.
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