ConocoPhillips makes a groundbreaking move in the stock market by acquiring Marathon Oil in a massive all-stock deal worth $17.1 billion. Find out more about this intriguing acquisition!
In a groundbreaking move in the stock market, ConocoPhillips has announced its acquisition of Marathon Oil Corporation in an all-stock deal valued at $17.1 billion. This acquisition is expected to have an immediate positive impact on ConocoPhillips' earnings, cash flows, and return of capital per share. The deal will see Marathon Oil stockholders exchanging each share for 0.255 shares of ConocoPhillips, representing a significant premium.
This acquisition will add a substantial 2 billion barrels of resources to ConocoPhillips' portfolio, extending its reach in key shale fields in Texas, New Mexico, and North. The takeover signifies a trend of consolidation sweeping the oil industry, with major players strategically acquiring smaller rivals to strengthen their positions.
Meanwhile, the stock market witnessed a slight downturn as the Dow Jones Industrial Average fell 0.9%, the Nasdaq Composite slipped 0.4%, and the S&P 500 decreased by 0.6%. The choppiness in Nvidia's stock was a cause of concern for traders, contributing to the overall decline in the market.
In other news, Chewy Inc. experienced a significant surge in its stock value following another quarterly earnings beat and a $500 million buyback announcement. This positive performance highlights the company's strong market presence and investor confidence in its growth prospects.
Did you know that ConocoPhillips' acquisition of Marathon Oil is one of the largest all-stock deals in recent years? This move signals a shift in the energy sector's landscape and sets the stage for potential industry transformations. Additionally, Chewy Inc.'s remarkable stock rally showcases the power of consistent earnings performance in driving investor enthusiasm and market success.
Download .PDF Acquisition of Marathon Oil Corporation is expected to be immediately accretive to earnings, cash flows and return of capital per share.
The deal is valued at $ ...
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The acquisition will add 2 billion barrels of resources to ConocoPhillips' portfolio, extending its reach in shale fields in Texas, New Mexico and North ...
Under the terms of the agreement, Marathon Oil stockholders will exchange each share for 0.255 shares of ConocoPhillips, representing a nearly 15% premium based ...
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