ConocoPhillips Completes Acquisition of Marathon

In connection with the closing of the Marathon acquisition, Marathon became a wholly-owned subsidiary of COP and is no longer a publicly traded company.

Edited by Heather Gaynor

ConocoPhillips (COP) announced that is has commenced offers to eligible holders to exchange outstanding notes issued by Marathon for up to $4 billion USD aggregate principal of new notes to be issued by CPCo and fully and unconditionally guaranteed by COP. The Exchange Offers and Consent Solicitations are being made pursuant to the terms and subject to the conditions set forth in the offering memorandum and consent solicitation statement, dated as of Nov. 25, 2024.

The completion of the acquisition of Marathon closing means Marathon became a wholly owned subsidiary of COP and is no longer a publicly traded company. More details and specific valuation information for new notes and exchanges can be found on the ConocoPhillips website.