US oil giant to acquire rival in billion-dollar transaction
![Photo: Loren Elliott/Reuters/Ritzau Scanpix](https://photos.watchmedier.dk/watchmedier/resize:fill:3840:0:0/plain/https://photos.watchmedier.dk/Images/article12495580.ece/ALTERNATES/schema-16_9/20200924-201340-1-1920x1079we.jpg)
US oil firm Conoco Phillips plans to acquire rival company Concho Resources Inc. in a transaction worth USD 9.7 billion, the former writes in a news release.
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