MRO - Does ConocoPhillips' Blockbuster Acquisition of Marathon Oil Make the Dividend Stock a Buy Now?
2024-06-02 14:33:00 ET
ConocoPhillips (NYSE: COP) made a splash on May 29 when it announced an all-stock acquisition of Marathon Oil (NYSE: MRO) . The purchase price represents a 14.7% premium to the closing price of Marathon on May 28, giving the company an enterprise value (market cap plus debt) of $22.5 billion.
Here are the deal's pros and cons and whether ConocoPhillips is a dividend stock worth buying now.
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Does ConocoPhillips' Blockbuster Acquisition of Marathon Oil Make the Dividend Stock a Buy Now?