, pending a Federal Trade Commission review, Reuters reports. Conoco and Marathon Oil struck their acquisition deal in May when Conoco agreed to take over the target company in a deal worth $22.5 billion, including the assumption of $5.4 billion in debt. Earlier this month, a Marathon Oil shareholder filed a lawsuit seeking to stop the ConocoPhillips acquisition, claiming that the price undervalued the company.
For Conoco, the deal would push its market value to over $150 billion, extending its lead as the largest independent producer, on the same level as the supermajors, though slightly ahead of BP and slightly behind Shell, according to analysis from Enervus Intelligence Research.
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