The all-stock deal comes as U.S. shale companies have posted big losses due to weak crude prices amid the COVID-19 pandemic and have struggled to raise new capital to restructure debt. Concho shareholders will receive 1.46 shares of ConocoPhillips for each share held. The deal for $49.30 per share, represents a 1.4% premium to Concho’s closing close on Friday, according to Reuters calculations. …read more
Source:: Yahoo Finance
