Marathon Oil receives shareholder approval for $22.5bn merger with ConocoPhillips
Marathon Oil on August 29 announced that it had received the necessary stockholder approval for its pending merger with ConocoPhillips.
The company will report the vote results from the special stockholder meeting in a Form 8-K filing with the US Securities and Exchange Commission. Marathon Oil and ConocoPhillips continue to anticipate that the transaction will close in the late fourth quarter of 2024, pending regulatory approval and other customary closing conditions.
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Earlier this year, in May, ConocoPhillips agreed to acquire Marathon Oil in a $22.5bn deal. Marathon Oil operates in the Bakken Basin in North Dakota, the Permian Basin in West Texas, and the Eagle Ford Basin in South Texas.