The deal is valued at $22.5 billion when including $5.4 billion in debt.As part of the transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own, the companies said Wednesday.
ConocoPhillips said Wednesday that the transaction will add highly complementary acreage to its existing U.S. onshore portfolio. The deal is expected to close in the fourth quarter. It still needs approval from Marathon Oil stockholders. Separate from the transaction, ConocoPhillips said that it anticipates raising its ordinary dividend by 34% to 78 cents per share starting in the fourth quarter.HOUSTON — Power outages remained widespread Wednesday in storm-weary Texas a day after another burst of severe weather flooded streets, uprooted trees and ripped off roofs. Authorities said a teenager was killed at a construction site while working on a home that collapsed.
Melinda French Gates said she will be donating $1B to individuals and organizations working on behalf of women and families globally.PORTLAND, Ore. — A staff member with an Oregon medical care nonprofit was killed when the team he was traveling with in a convoy was fired upon in Ethiopia, officials said Monday. Mustefa Alkisim was a Medical Teams International driver traveling in the insecure Amhara region of Ethiopia Friday when men fired at the VANDENBERG SPACE FORCE BASE, Calif.
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