Brief: Conocophillips To Acquire Marathon Oil In All-Stock Transaction

Marathon Oil

29/05/2024 12:09

May 29 (Reuters) - Conocophillips  COP.N :
    * CONOCOPHILLIPS TO ACQUIRE MARATHON OIL CORPORATION IN
ALL-STOCK
TRANSACTION; PROVIDES SHAREHOLDER DISTRIBUTION UPDATE
    * CONOCOPHILLIPS: EXPECTS TO INCREASE ITS ORDINARY BASE
DIVIDEND
BY 34% TO 78 CENTS PER SHARE STARTING IN Q4 OF 2024.
    * CONOCOPHILLIPS - UPON CLOSING OF TRANSACTION,
CONOCOPHILLIPS
EXPECTS SHARE BUYBACKS TO BE OVER $20 BILLION IN FIRST THREE
YEARS,
    * CONOCOPHILLIPS: PROPOSED DEAL FOR ENTERPRISE VALUE OF
$22.5
BILLION
    * CONOCOPHILLIPS: MARATHON OIL SHAREHOLDERS WILL RECEIVE
0.2550
SHARES OF CONOCOPHILLIPS COMMON STOCK FOR EACH SHARE OF MARATHON
OIL COMMON STOCK
    * CONOCOPHILLIPS: EXPECTS TO ACHIEVE FULL $500 MILLION OF
COST AND
CAPITAL SYNERGY RUN RATE WITHIN FIRST FULL YEAR FOLLOWING
CLOSING OF TRANSACTION
    * CONOCOPHILLIPS:  DEAL TO BE IMMEDIATELY ACCRETIVE TO
EARNINGS,
CASH FLOWS AND RETURN OF CAPITAL PER SHARE
    * CONOCOPHILLIPS: TRANSACTION IS EXPECTED TO CLOSE IN Q4

Source text for Eikon:  ID:nBwb7x5Dya 
Further company coverage:  COP.N 

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