ConocoPhillips to Acquire Marathon Oil in Landmark All-Stock Deal

ConocoPhillips has announced the acquisition of Marathon Oil Corporation in an all-stock transaction. Following the deal, ConocoPhillips plans to increase its ordinary base dividend by 34% and initiate share buybacks worth over $20 billion. The acquisition, valued at $22.5 billion, promises significant cost synergies and immediate accretion to earnings.

Conocophillips: * 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: Further company coverage:

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