Mergers News Updates

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits.

Hess Corp. shareholders approved Chevron Corp.’s $53 billion takeover despite reservations among several prominent investors about a dispute with Exxon Mobil Corp. over a key asset.

John Hess is talking to directly with shareholders in a last-ditch effort to ensure enough support for a $53 billion takeover by Chevron Corp., according to people familiar with the matter.

The joining of trucking companies comes with challenges throughout the merger and acquisition process. The slow-moving procedure was exacerbated during the boom/bust cycle of 2022-23.

As trucking mergers and acquisitions followed the freight market into a down cycle, conditions have stabilized, showing positive signs for the sector going forward.

The FTC declined to challenge Exxon Mobil’s $60 billion purchase of Pioneer Natural Resources but asserted that Scott Sheffield must not take a seat on the supermajor’s board.

A Colorado court scheduled a preliminary injunction hearing on supermarket giant Kroger Co.’s proposed acquisition of rival Albertsons Cos. in mid-August.

Senate Majority Leader Chuck Schumer called on the Federal Trade Commission to open a full investigation into a wave of acquisitions in the oil and gas industry, arguing that the consolidation threatens competition and could lead to higher prices.

The U.S. Federal Trade Commission and a group of states are poised to sue to block the tie-up between supermarkets Kroger Co. and Albertsons Cos., according to people familiar with the plans.

Colorado sued to block Kroger Co.’s $24.6 billion acquisition of Albertsons Cos. in court Feb. 14, becoming the second state to challenge the deal.