Ticker: ConocoPhillips buying Marathon Oil, $17.1B; Nissan warns owners on older airbags

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

The deal announced Wednesday is valued at $22.5 billion when including $5.4 billion in debt.

Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own.

ConocoPhillips said Wednesday that the transaction will add highly desired acreage to its existing U.S. onshore portfolio.

Crude prices have jumped more than 12% this year and the cost for a barrel rose above $80 this week.

Nissan warns owners on older airbags

Nissan is urging the owners of about 84,000 older vehicles to stop driving them because their Takata air bag inflators have an increased risk of exploding in a crash and hurling dangerous metal fragments.

Wednesday’s urgent request comes after one person in a Nissan was killed by an exploding front-passenger inflator, and as many as 58 people were injured since 2015.

“Due to the age of the vehicles equipped with defective Takata air bag inflators, there is an increased risk the inflator could explode during an air bag deployment, propelling sharp metal fragments which can cause serious injury or death,” Nissan said in a statement.

Nissan said the “do not drive” warning covers certain 2002 through 2006 Sentra small cars, as well as some 2002 through 2004 Pathfinder SUVs, and 2002 and 2003 Infiniti QX4 SUVs.

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