ConocoPhillips Acquires Marathon Oil in $17.1 Billion Deal

ConocoPhillips has agreed to acquire Marathon Oil in an all-stock deal valued at $17 billion, expanding its presence in US shale fields and adding reserves in Equatorial Guinea. The acquisition, which offers a 14.7% premium on Marathon's last closing share price, is part of a broader trend of consolidation in the oil and gas industry. The deal, expected to close in the fourth quarter pending regulatory approval, will add 2 billion barrels to ConocoPhillips' inventory and increase its share buybacks and dividends.