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ConocoPhillips to buy Concho in $9.7bn in all stock deal

ConocoPhillips to buy Concho in $9.7bn in all stock deal

ConocoPhillips is buying out shale gas producer Concho Resources in an all-stock deal valued at $9.7bn. Concho’s deal will end up exchanging stock for a fixed ratio of 1.46 shares of ConocoPhillips shares. The joint business entity will be the largest independent oil and gas company with an EV of ~$60bn and a combined resource base of ~23bn barrels of oil equivalent.

Milan
Milan
Top in Business