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☆ ConocoPhillips is buying Marathon Oil in $22.5 billion deal
▼ + stars: | 2024-05-29 | by ( Mark Thompson | ) edition.cnn.com time to read: +2 min

ConocoPhillips said Wednesday it had agreed to buy Marathon Oil in an all-stock deal worth $22.5 billion, including about $5.4 billion of debt. Marathon Oil shareholders will receive 0.255 ConocoPhillips shares for each Marathon share they own, representing a 14.7% premium to the closing price on Tuesday. Shares of Marathon (MRO) were up more than 10% in premarket trade, while Conoco (COP) stock was down about 2%. “This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory,” Ryan Lance, ConocoPhillips CEO, said in a statement. Until 1962, Marathon Oil was called The Ohio Oil Company, which was founded in 1887 and was bought two years later by John D. Rockefeller’s Standard Oil.

Persons: Hess, ” Ryan Lance, John D, Lee Tillman, ” Tillman Organizations: London CNN, Big Oil, ConocoPhillips, Oil, Marathon Oil, Occidental, Diamondback Energy, Endeavor Energy Partners, Marathon, Financial Times, Devon Energy, Ohio Oil Company Locations: Conoco, Houston, multibillion

“It’s been an issue in North Dakota, it’s been an issue nationally,” said measure chairman Jared Hendrix, who led a successful 2022 initiative that set term limits for North Dakota’s governor and Legislature. In a 1995 congressional term limits case, the court ruled that states cannot set qualifications for Congress beyond those listed in the U.S. Constitution. Backers of the North Dakota measure filed a federal lawsuit last year, challenging the state's constitutional provisions and laws against out-of-state petition circulators. Term Limits. Term Limits National Field Director Scott Tillman helped Hendrix carry boxes of petitions into the secretary’s office on Friday.

Persons: “ It’s, it’s, ”, Jared Hendrix, “, Democratic Sen, Quentin Burdick, Mark Jendrysik, Mitchell, Jason Marisam, Marisam, Clarence Thomas, ” Marisam, Republican Sen, John Hoeven, U.S . Sen, Dianne Feinstein, Mitch McConnell, Joe Biden, Robert Hur, Nikki Haley, Biden, Donald Trump, Scott Tillman, Hendrix, ” Tillman Organizations: N.D, U.S . Senate, U.S . Constitution, North, U.S . House, Representatives, Democratic, University of North, U.S, Supreme, Mitchell Hamline School, Law, Republican, U.S ., “ Locations: BISMARCK, North Dakota, U.S ., U.S, Dakota, University of North Dakota, Texas, North

(AP) — Many students at a historically Black college in Missouri returned from Christmas break this week dressed in black, mourning the suicide of a beloved administrator who had alleged bullying and racism by the school's white president. Today, a white president at an HBCU is a rarity, she said. Just 30 miles (50 kilometers) from Lincoln University, anti-racism protests erupted at the University of Missouri’s Columbia campus in 2015, forcing that school’s president to resign. One Black student at the overwhelmingly white campus went on a weeklong hunger strike. Friends of Candia-Bailey said Moseley was never a good fit to lead the historically Black university.

Persons: Antoinette Bonnie Candia, John Moseley, Moseley, ”, Xoe Binford, Victor Pasley, Monica Graham, Bailey, Graham, ” Candia, ” Moseley, Marybeth Gasman, of, Eric Malone, “, wasn’t, ” Kendra Perry, ” Perry, Candia, Pasley, ” Pasley, Cierra Tillman, ” Tillman, Perry, Bonnie, ” ___ Hollingsworth Organizations: JEFFERSON CITY, Lincoln University, University, Rutgers University, Bluefield, Harvard University, U.S, Supreme, University of Missouri’s Columbia, Lincoln, ”, Associated Press Locations: Mo, Missouri, Jefferson City, Lincoln, Candia, Black, Bluefield State, West Virginia, Mission , Kansas

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