Middle East Economic Survey
ConocoPhillips Acquires Burlington Resources For $35.6Bn
ConocoPhillips on 12 December announced its purchase of Burlington Resources for $35.6bn. Under the terms of the agreement, Burlington shareholders will receive $46.50 in cash and 0.7214 shares of ConocoPhillips common stock for each Burlington share they own, giving the transaction a value of $92 per share. ConocoPhillips is to fund the acquisition through...