The takeover is the latest in a wave of consolidation sweeping the oil industry, with the biggest players rushing to acquire smaller rivals.
Category: Mergers, Acquisitions and Divestitures
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ConocoPhillips to Buy Marathon Oil as M.&A. Frenzy Continues
ConocoPhillips has agreed to buy Marathon Oil for $22.5 billion, as consolidation in the U.S. energy sector shows little sign of slowing down.
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Chevron’s $53 Billion Oil Deal Is Backed by Hess Shareholders
Hurdles remain as Chevron and Exxon Mobil wage a legal battle over Hess’s stake in a lucrative oil project in Guyana.
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Adam Neumann Gives Up on Buying Back WeWork
The co-founder of the shared-office company, who stepped down under pressure before the firm went bankrupt, announced an audacious takeover bid earlier this year.
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Stanley Goldstein, Who Helped Make CVS a Pharmacy Giant, Dies at 89
The small chain that he, a brother and a third partner opened in 1963 had become the nation’s largest by the time he retired as its chief executive three decades later.
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China Has a Plan for Its Housing Crisis. Here’s Why It’s Not Enough.
A new approach by China’s top leaders is bold but pales against the problem: a vast number of empty apartments no one wants to buy.
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U.S. Sues to Break Up Ticketmaster Owner, Live Nation
Accused of violating antitrust laws, Live Nation Entertainment faces a fight that could reshape the multibillion-dollar live music industry.
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Sony and Apollo Take Key Step in Bid for Paramount’s Assets
The two companies have expressed interest in acquiring the media conglomerate, but are backing away from their $26 billion all-cash offer.