1. Marathon Petroleum Gains Elliott's Support to Keep Speedway

    Marathon Petroleum Gains Elliott's Support to Keep Speedway

    (Reuters) - U.S. refiner Marathon Petroleum Corp said on Tuesday it would keep its Speedway retail arm, a decision backed by activist investor Elliott Management, which had previously pushed the company to separate the business. Last November, Elliott, the $33 billion hedge fund, unveiled a 4 percent stake in Marathon and made several demands including urging a spin-off of Speedway, which runs gas stations and convenience stores across the United States.. Marathon’s decision to keep the business represents a unique case where a company has opted against an Elliott demand, yet still managed to earn the hedge fund’s ...

    Read Full Article

    Login to comment.

  1. Categories

    1. BoardProspects Features:

      BoardBlogs, BoardKnowledge, BoardMoves, BoardNews, BoardProspects Announcements, BoardProspects CEO, CEO Blog, In the News, Partner Publications, Sponsored Content
  2. Quotes

    1. While we see value in a spin of Speedway, today's decision to maintain an integrated Speedway came after a full, rigorous and independent review.
  3. Topics Mentioned

  4. Authors