Equity Analysis /
United States of America

US : Concho Resources Inc. - CXO | Completes Merger with Conoco; Dropping Coverage

    Harry Halbach
    Harry Halbach

    CPA, Sr. Res. Assoc.

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    CGS-CIMB
    15 January 2021
    Published byCGS-CIMB

    ConocoPhilips (COP/$45.12/Outperform) announced the closing of its acquisition of Concho Resources on January 15, 2021. As announced, CXO shareholderswill receive a fixed exchange ratio of 1.46 shares of Conoco common stock for each share of CXO common stock owned.As a result, Concho Resources will