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Energy Merger

All articles tagged with #energy merger

business1 year ago•3 min saved

ConocoPhillips Acquires Marathon Oil in $17B All-Stock Deal

ConocoPhillips has agreed to acquire Marathon Oil for $22.5 billion in an all-stock deal, marking the latest major consolidation in the U.S. energy sector. The acquisition, expected to close in Q4 2024, will add over 2 billion barrels of reserves to ConocoPhillips' portfolio and is anticipated to generate $500 million in cost savings within the first year. The deal follows other significant mergers in the industry and has raised some antitrust concerns, although the FTC views the impact on the global market as minimal.

via Reuters|

#antitrust #business #conocophillips

business1 year ago•2 min saved

ConocoPhillips Acquires Marathon Oil for $22.5 Billion

ConocoPhillips has agreed to acquire Marathon Oil for $22.5 billion in an all-stock deal, marking the latest major consolidation in the U.S. energy sector. The acquisition, expected to close in Q4 2024, will add over 2 billion barrels of reserves to ConocoPhillips' portfolio and is anticipated to generate $500 million in cost savings within the first year. The deal follows other significant mergers in the industry and has raised some antitrust concerns, though the FTC views the impact on the global market as minimal.

via Yahoo Finance|

#business #conocophillips #energy-merger

finance2 years ago•8 min saved

"Investors Analyze Inflation Report and Energy Merger, S&P 500 Remains Steady"

The S&P 500 remained relatively unchanged as investors assessed higher-than-expected inflation data and celebrated a major energy merger. The Dow Jones Industrial Average dipped slightly, while the Nasdaq Composite traded higher. Despite the release of new wholesale U.S. inflation data, stocks initially rose. Treasury yields continued to decline, reaching their lowest levels since September. The market narrative of moderating inflation and strong employment conditions is supporting stocks, despite concerns about rising interest rates. The market is also awaiting the release of the Federal Reserve's meeting minutes and the consumer price index report for September. Additionally, Exxon Mobil announced its acquisition of Pioneer Natural Resources in a $59.5 billion all-stock deal, the largest merger on Wall Street this year.

via CNBC|

#energy-merger #finance #inflation