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Marathon Petroleum to Acquire Hess Subsidiary in Multi-Billion Dollar Deal

Marathon Petroleum Corporation Hess Corp
AnnouncedMay 22, 2014
TypeAsset
Announced Date
May 22,2014
Transaction Type
Asset




Snapshot
Location
Country
United States


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Marathon Petroleum Corporation has reported that its subsidiary, Speedway LLC, has signed a definitive agreement with Hess Corporation to acquire Hess Retail Holdings LLC.

Highlights: Accelerates MPC's strategy to grow higher-valued, stable cash flow retail business Positions Speedway as one of the largest company-owned and -operated convenience store chains in the U.S. Creates substantial commercial and operational synergies and marketing enhancements Leverages integrated refining and transportation logistics operations Provides outlet for incremental 200,000 barrels per day of refined…

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United States Deal Activity In Last 12 Months


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