Reported 4 months ago
ConocoPhillips is set to acquire Marathon Oil in a $22.5 billion all-stock deal, creating a larger-scale global oil and gas producer with enhanced positions in the U.S. The acquisition will bring cost synergies and boost production, allowing ConocoPhillips to return more cash to shareholders through dividends and buybacks. The company plans to increase its dividend by 34% in the fourth quarter, aiming for top-tier dividend growth and significant share repurchases in the coming years.
Source: YAHOO