Marathon Petroleum (MPC) Agrees to Sell Speedway to 7-Eleven for $21B
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Marathon Petroleum Corp. Announces Agreement for $21 Billion Sale of Speedway
August 2, 2020 6:04 PM EDTFINDLAY, Ohio, Aug. 2, 2020 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) today announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd. (3382: Tokyo), whereby 7-Eleven will acquire Speedway for $21 billion in cash. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approvals.
"This transaction marks a milestone on the strategic priorities we outlined earlier this year," said Michael J. Hennigan, president and chief executive... More
