ConocoPhillips plans purchase of Marathon Oil for $17.1 billion
The buyout offer is the latest in recent years, as high demand for oil has led to energy companies flush with cash and eager to expand.
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The buyout offer is the latest in recent years, as high demand for oil has led to energy companies flush with cash and eager to expand.
ConocoPhillips is buying Marathon Oil in an all-stock deal as energy prices rise and big oil companies reap massive profits.
ConocoPhillips announced Wednesday it had entered a deal to acquire Marathon Oil.
ConocoPhillips has said that it will buy Marathon Oil in an oil-stock deal with an enterprise value of $22.5 billion.
ConocoPhillips and Marathon Oil Corporation have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt.