The acquisition worth $22.5 billion is completed, and Marathon Petroleum will delist on Friday
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Marathon Petroleum will be delisted from the New York Stock Exchange on Friday after completing its $22.5 billion acquisition of ConocoPhillips. This all-stock deal includes $5.4 billion in net debt and marks a part of the merger and acquisition frenzy in the U.S. oil and gas industry. ConocoPhillips will control assets in Texas, North Dakota, and the Permian Basin, reflecting how the low development costs in the Permian Basin have attracted large oil companies
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