ConocoPhillips sets sights on Marathon Oil-report
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 29 May 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
Episode transcripts seekingalpha.com/wsb.
Show links:
Biggest stock movers today: HOOD, AAL, and more
Hess shareholders approve $53B sale to Chevron
First of Sam Bankman-Fried's lieutenants sentenced to 7.5 years in prison - report
BHP wants more time to discuss $49B takeover bid for Anglo American
Volkswagen is still charging ahead with plans for a low-cost electric vehicle launch in Europe in 2027
Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. |
| 0:09.0 | Today is Wednesday, May 29th. |
| 0:11.5 | I'm Julie Morgan. |
| 0:13.2 | There's reportedly another oil merger in the works. |
| 0:16.6 | Merck is buying I Bio, and Robin Hood announces a buyback. |
| 0:22.2 | The consolidation wave in the oil and gas sector is not letting up. |
| 0:26.0 | The F.T. reports that Conoco Phillips is in advance talks to buy marathon oil in a |
| 0:31.6 | potential all-stock deal. |
| 0:33.8 | The tie-up with Value Marathon at a little over its current $15 billion market value and would |
| 0:39.3 | derail a bid by Devon Energy. |
| 0:41.8 | The report says there is still a chance that the latest |
| 0:44.4 | negotiations could fall apart or rival offer could sink the takeover plan. |
| 0:49.4 | Marathon oil is up 6.6% in pre-market action after closing nearly 3.5% higher on Tuesday. |
| 0:58.0 | Merck will buy I Bio for up to $3 billion. |
| 1:02.0 | I Bio CEO David Geyer IBIO for up to $3 billion. |
| 1:02.9 | IBIO CEO David Geyer told the F.T. that Merck will pay $1.3 billion in cash up front, with an additional |
| 1:10.5 | $1.7 billion in payments depending on the achievement of certain milestones. |
| 1:16.1 | Eye Bio is a clinical stage ophthalmology company that develops therapies for eye diseases |
| 1:21.8 | and is backed by UK venture capitalist Kate Bingham. |
| 1:25.2 | Restore it is I BIO's main clinical stage drug and it aims to treat retinal |
| 1:30.6 | illnesses characterized by leakage that results in visual impairment and even blindness. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.