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.