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Marathon to buy Western Oil Sands for $6.5B |
| Home | (CBC News) - Calgary-based Western Oil Sands Inc. has agreed to be acquired by Houston's Marathon Oil Corp. in a cash and stock deal worth $6.5 billion. Western shareholders will receive $3.8 billion in cash and 34.3 million shares of Marathon worth $2 billion. Marathon will also assume $700 million of Western's debt. Shares of Western Oil Sands jumped $3.05 to $37.18 in morning trading on the TSX. |