With Oil Over $100 and a $7 Billion Offer on the Table, Is ConocoPhillips the Most Interesting Oil Stock to Buy Right Now?
ConocoPhillips is evaluating an unsolicited offer for some of its assets, and the numbers sound huge.
Overview
ConocoPhillips (NYSE: COP) has six operating segments: Lower 48; Europe; Middle East and North Africa, Asia Pacific; Alaska; Canada; and Other International. It just received an unsolicited offer to buy some of its European assets, which may be valued at as much as $7 billion. Does that make ConocoPhillips more interesting than other energy stocks?
Like all companies, ConocoPhillips has a fiduciary duty to its shareholders. When it receives a legitimate offer to buy part of its energy portfolio, it has to take it seriously. Although the company offering to buy ConocoPhillips' Norway business and Teesside, U.K., assets hasn't been identified, the offer is under review. That suggests that it is a legitimate offer.
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Originally published at www.fool.com.