2024-05-29 14:21:57 ET
Summary
- ConocoPhillips announces the acquisition of Marathon Oil Corporation for .2550 shares of ConocoPhillips common stock and the assumption of debt.
- Integration benefits for shareholders will lead to a dividend increase and an enhanced stock buyback program.
- The acquisition of Marathon Oil is considered one of ConocoPhillips' best deals. The bolt-on nature of the acquisition is a huge plus.
- Hopefully, this puts the company in a position to grow through well-chosen acquisitions in the future.
- The Anadarko acreage could provide considerable upside as North America increases the export capacity significantly over the next two years.
ConocoPhillips ( COP ) announced an acquisition of Marathon Oil Corporation ( MRO ) today. Marathon Oil has a well-deserved reputation as having an outstanding management team that has done well since the company was spun off from Marathon Petroleum ( MPC ). Now, ConocoPhillips shareholders can benefit from all the work that was done by the Marathon Petroleum management....
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ConocoPhillips: Much Better Than Usual