(Bloomberg) — ConocoPhillips is in talks to acquire rival Concho Resources Inc., according to people familiar with the matter, as the largest independent energy producer looks to make a bold bet on U.S. shale during an historic industry downturn.The companies could announce a deal in the next few weeks, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and talks could fall through.Concho shares fell 1.3% in New York Tuesday, closing at $44.14 and giving it a market value of about $8.7 billion. Conoco fell 2% to $34.88, for …read more
Source:: Yahoo Finance
