common stock

TKO said it will have a share repurchase program of up to $2 billion on its Class A common stock and a $75-million quarterly cash dividend program.

As part of the ConocoPhillips transaction, Marathon Oil shareholders will receive 0.2550 shares of ConocoPhillips common stock for each share of Marathon Oil common stock that they own, the companies said Wednesday.

The company plans to retire the shares of the common stock and fund the TKO share purchase using some $150 million from a revolving credit facility, according to the filings.

The company said in a regulatory filing that the IPO will include 22 million shares of Class A common stock.

Trian, which owns $3 billion of common stock in The Walt Disney Co., said in a statement on Thursday that it believes the company has “woefully underperformed its peers and its potential.”