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...“Certain firms have reputations for being more litigious, being more activist and a lot of private equity don’t want to deal with those kinds of investors,” said Randy Raisman, managing director at Marathon...
...Elliott ran a similar campaign against Marathon Petroleum in 2019, which led to the replacement of the chief executive and the spin-off of its Speedway retail operation....
...ESG in executive pay: Beyond the ‘fluff’ In 2018, Marathon Petroleum agreed to pay a $335,000 fine for a diesel spill that leaked into a river on the border between Indiana and Illinois....
...Conoco, Occidental Petroleum, Devon Energy and Marathon Oil have all been mooted as possible buyers....
...Total shareholder returns at Occidental Petroleum, Hess, Marathon, and Schlumberger soared more than 80 per cent in 2022....
...“[Petrol prices] have been much more important than we’ve seen in the past five, six election cycles,” said Travis Ridout, the project’s co-director....
...Shareholders at Texas-based Occidental Petroleum also voted against a similar proposal last week by an overwhelming margin....
...Japanese retail giant Seven & i Holdings agreed to buy the business — which owns about 3,900 petrol stations and convenience stores — from Marathon Petroleum in an all-cash deal last August as it looked...
...Marathon Petroleum has agreed to sell its Speedway petrol stations business to Seven & i Holdings in a $21bn all-cash deal, five months after the Japanese owner of the 7-Eleven convenience store chain halted...
...Now Seven & i is sealing the deal with vendor Marathon Petroleum for just 4.5 per cent less. However adept it is at selling coffee, magazines and umbrellas, it is not the world’s toughest negotiator....
...Our second item raises a quizzical eyebrow as it looks at the claims of environmental, social and governance progress at Marathon Petroleum, the US’s biggest oil refiner. Thanks for reading....
...Here are just a few examples of some of the megadeals we’ve seen since the beginning of July: the $21bn sale of Marathon Petroleum’s Speedway petrol stations business to Seven & i Holdings, which DD’s Kaye...
...Yamani learnt of his dismissal from a TV news bulletin as he emerged from a 16-day Opec marathon meeting....
...Marathon Petroleum, Phillips 66 and HollyFrontier are among the refining companies exploring or pursuing projects to produce “renewable diesel”, which can substitute petroleum-based diesel in trucks and...
...DD’s James Fontanella-Khan takes us through how a mega-deal at Occidental Petroleum took a turn for the worse in this M&A tale....
...Petroleum, the US’s biggest oil refiner....
...In our view, markets are dysfunctional, and prices in many places do not make sense,” the firm’s co-chief executives George Hicks and Ilfryn Carstairs wrote in a paper last week....
...The deal, which will involve Carlyle writing an equity cheque of about $2.4bn, will be funded partly by this new fund, and partly by co-investors....
...The list of deals includes the $21bn sale of Marathon Petroleum’s Speedway petrol stations business to Seven & i Holdings, the Japanese owner of the 7-Eleven convenience store chain....
...Last year it missed out in a battle for Speedway, the US petrol station group owned by Marathon Petroleum that was eventually acquired by Japanese rival Seven & i Holdings for $21bn....
...Marathon Petroleum declined to comment....
...Oscar Brown, who was head of strategy at Occidental Petroleum, has been forced out of the company, The Wall Street Journal reported....
...Japanese companies spent $24bn in the first three months of the year in 138 overseas deals, although Seven & i Holdings pulled out of talks to buy Marathon Petroleum’s Speedway petrol station chain for about...
...That was definitely the question investors were asking as Seven & i outbid rivals by about $4bn to buy Marathon Petroleum’s Speedway stores for $21bn....
...Petroleum’s Speedway business, either of which would have easily been their biggest purchase to date....
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