We spun Phillips off and they dropped Conoco how long before we drop Phillips and the O? ExxonMobile finally became Exxon😊! I know it's coming, I was just wondering if anyone has any idea when? I heard it has been suggested when we consolidate in Houston next year?
ConCo, a great name
Yep Conoco got first name took over Phillips and helped them with their huge debt from Arco acquisition. Time to drop Phillips name!
Phillips took over Conoco. They called it a merger of equals so they would not have to pay a premium. They let Conoco take the 1st position in the name and moved the hq to Houston to give the appearance of a merger of equals. Mulva did not care what the company was called and wanted to be headquartered in Houston anyways. Archie got a big pay out and Conoco share holders got screwed.
As an outsider (heritage Burlington) I just don't think Conoco deserves it. They were not doing well when they were bailed out by Phillips. It's kind of like a bad manager getting promoted for doing a poor job. It's undeserved. I agree with a previous poster. A new name is needed.
First name rules second name gets dropped. We seen this over and over.
Why does any of this matter?
The reason they cant drop Phillips is it was the larger and stronger of the 2 companies at the time of the merger. Why would you reward the weaker of the 2 companies by giving them the name. Does not work that way my friend. I suggest a completely new name.
Conoco's name is listed first, end of story. Time to drop Phillips.
My mom used to be young and attractive. She died last year.
What COP was, isn't what they are now.
At merger close Conoco stocks were $29, Phillips were $60. Conoco had been bought n sold DuPont, Phillips had remained up touched to that point.Does anyone have anymore question?
At merger close Conocophillips stocks were $29, Phillips were $60. Conocophillips had been bought n sold DuPont, Phillips had remained up touched to that point.Does anyone have anymore question?
Doesn't matter when a company is founded. P66 isn't laying off like COP has over the past few years. Many bailed on COP BEFORE they started massive cuts, and where did they go? Yep, P66! And they are still there. Some who were cut from COP in 2015 went to P66 and made more money as well!
The name really doesn't matter anymore, what matters is that this once great company has been run into the ground by incompetent, arrogant, corrupt management.
CONOCO was founded in 1875 and is 142 years old. Phillips was not founded until 1917.
It doesn't matter now CONOCO needs to dump the Phillips name.
Phillips had more debt than Conoco and more outstanding shares. Phillips was run by bean counters and Conoco by engineers. Phillips was spun off time to forget them.
If Phillips was bigger than Conoco then why does everyone think Conoco bought Phillips? Is everyone oout there including newspapers mis informed or ignorant?
Although the deal is being termed a merger of equals, Phillips will have a bit of an edge after the deal closes. The new company will be 56.6 percent owned by shareholders of Phillips, whose headquarters is in Bartlesville, Okla., and 43.4 percent owned by shareholders of Conoco, which is based in Houston.
The way I see it a merger is a merger not an acquisition! There was no adjustment to stock holders of either company.
Go back and read about the merger of equals. P 66 was 30% larger .
Poster is very clever creating copy cat post with twists then getting original post removed. I am sure you twist other post too. Probably administrator with personal agenda.
Are you talking about the merger of eqauls? Market caps were beer near same! The CEO OF Conoco became Chairman of the Board. CEO of Phillips became CEO of mergered companies ConocoPhillips. Phillips is gone now why keep the name?
Actually, Phillips Petroleum acquired Conoco. It wasn't really a merger, regardless of what management will tell you or what you read in the newspapers. Phillips acquired Conoco.
Phillips was the larger of the 2 when merged by 30%. Not the same as Exxon merging with Mobil. Exxon was the larger of the 2.