Conocophillips (COP) has provided an announcement.
ConocoPhillips has announced a definitive merger agreement with Marathon Oil, where Marathon will merge into a ConocoPhillips subsidiary, and Marathon shareholders will receive ConocoPhillips stock in exchange for their shares. The merger’s successful completion hinges on regulatory approvals, including antitrust clearance and stockholder consent. The deal includes standard provisions for the conduct of businesses pre-closure and stipulates a potential termination fee should the agreement not proceed under certain conditions. The merger is a significant move in the energy sector, aiming to consolidate resources and operations between the two companies.
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