ConocoPhillips in Talks to Acquire Marathon Oil, FT Reports
- Agreement would extend rush of deals in US oil and gas sector
- Marathon also has been a takeover target for Devon Energy
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ConocoPhillips is in advanced talks to acquire Marathon Oil Corp., which would extend a major wave of consolidation among the US oil and gas industry, according to people familiar with the matter.
An announcement could come as soon as Wednesday morning in New York. The all-stock proposal would value the target at slightly more than its market capitalization of about $15 billion, according to the Financial Times, which reported the potential deal earlier.