Will ConocoPhillips buy Marathon Oil?

HOUSTON – ConocoPhillips (NYSE: COP) and Marathon Oil Corporation (NYSE: MRO) announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 billion, inclusive of $5.4 billion of net debt.

When did Conoco become a company?

In 1875, the "Continental Oil and Transportation Company" (acronym "Conoco") was founded in Ogden, Utah. In 1885, Conoco was reincorporated as part of Standard Oil. After the Supreme Court of the United States dissolved Standard Oil, Conoco became independent in 1913. By 1929, it had become a fully integrated oil company.

Is Conoco a subsidiary of Standard Oil?

One of the several successors of Standard Oil, Conoco was a subsidiary of that company from 1884 until its 1911 divestiture when the U.S. Supreme Court ruled to decouple the monopolized entity. Alongside Phillips 66 and 76, it operates as one of the major fuel brands of the Phillips 66 Company.