Marathon Oil Stock Is on Alert as ConocoPhillips Eyes a Big Buy

ConocoPhilips (NYSE:COP) has announced an all-stock deal to acquire Marathon Oil (NYSE:MRO.Marathon shareholders to get 0.255 of a ConocoPhilips share for each Marathon share. This is a 14.7% premium to Marathon’s May 28 closing price.ConocoPhilips was trading near $117 on May 29. That would make the price of the deal$29.84 for each Marathon share. Marathon Oil stock was trading early on May 29 at $29.07.Last Dance for OilOil companies have been buying each another for the last few years to lower costs and ...