ConocoPhillips buys Concho in US$9.7B deal

IN what is likely to be one of the biggest M&A deals of the year, US major Conocophillips has agreed to buy Permian producer Concho Resources for US$9.7 billion in an all-stock transaction as the industry continues to contract amid low demand.

ConocoPhillips buys Concho in US$9.7B deal ConocoPhillips buys Concho in US$9.7B deal ConocoPhillips buys Concho in US$9.7B deal ConocoPhillips buys Concho in US$9.7B deal ConocoPhillips buys Concho in US$9.7B deal

 

ConocoPhillips announced overnight each share of Concho Resources common stock will be exchanged for a fixed ratio of 1.