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Marathon Oil shareholders have approved a $16 billion acquisition by ConocoPhillips. The deal, which is set to close by the fourth quarter of 2024 pending a review by the Federal Trade Commission (FTC), will significantly increase ConocoPhillips' market value to over $150 billion. Despite a lawsuit alleging that the transaction undervalues Marathon Oil, shareholders voted in favor of the merger. This acquisition is part of a broader trend of consolidation in the oil industry.
Marathon Oil shareholders vote in favor of $16 billion ConocoPhillips deal https://t.co/msmmQoNz5C https://t.co/k9ElGknD8u
Shareholders in Marathon Oil have approved a ~$16B acquisition by ConocoPhillips, set to close by Q4 pending FTC review. https://t.co/GE7ZAJbMi3
Shareholders in Marathon Oil have approved a ~$16B acquisition by ConocoPhillips, set to close by Q4 pending FTC review. Despite a lawsuit claiming the deal undervalues Marathon, this move will boost Conoco’s market value to over $150B. #OilIndustry #ConocoPhillips…
