Speedway divestiture
WebAug 2, 2024 · Utilizing the proceeds from the Speedway divestiture, we have completed approximately $12 billion of our $15 billion return of capital program. We also recently published our annual Sustainability and Climate reports, which highlight the progress we have made across our sustainability commitments.” 1. WebJul 7, 2024 · Marathon operates a vertically integrated refining, marketing, retail, and transportation system for petroleum and petroleum products; prior to closing, Marathon …
Speedway divestiture
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WebJul 2, 2024 · WASHINGTON, DC - 7-Eleven and Marathon have agreed to divest from locations in almost 300 markets, according to a recently proposed consent order from the Federal Trade Commission (FTC).The agreement was reached after competition concerns were raised following news that 7-Eleven would acquire the Speedway convenience store … WebMay 14, 2024 · The addition of Speedway brings 7-Eleven’s total North American portfolio to approximately 14,000 stores and diversifies 7-Eleven’s presence to 47 of the 50 most …
WebJul 7, 2024 · 7-Eleven, Inc. BB #:105528 and Marathon Petroleum Corporation have agreed to divest hundreds of stores used to sell gasoline and diesel fuel in 293 local markets across 20 states to settle Federal Trade Commission charges that 7-Eleven’s acquisition of Marathon’s Speedway subsidiary violated federal antitrust laws. 7-Eleven consummated … WebJun 25, 2024 · WASHINGTON — A new statement from the Federal Trade Commission (FTC) suggests that the disagreement over 7-Eleven Inc.’s acquisition of Speedway from …
Marathon Petroleum Corp. (NYSE: MPC) today announced the close of the $21 billion sale of Speedway to 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven i Holdings Co., Ltd (3382: Toyko). In conjunction with closing, MPC announced its plans regarding the estimated $16.5 billion of after-tax cash proceeds. WebJan 19, 2024 · According to the complaint, which also names Seven & i’s U.S. subsidiary, 7-Eleven, Inc., and Sunoco LP, the acquisition would harm competition in 76 local markets across 20 metropolitan statistical areas.. Retail fuel stations compete on price, convenience store format, product offerings, and location, and they pay close attention to nearby …
WebMay 14, 2024 · “Speedway is a great brand and a strong strategic fit for our business that significantly diversifies our presence throughout the North American market, particularly in the Midwest and on the East Coast,” said Joe DePinto, president and CEO of 7-Eleven. “We are very excited to welcome Speedway into the 7-Eleven family. bubbles and brews vintage carWebMay 15, 2024 · 7-Eleven’s parent, Tokyo-based Seven & i Holdings Co., agreed in August to buy 3,900 Speedway outlets from Marathon Petroleum Corp. to clinch a dominant position of almost 14,000 stores in the... bubbles and brews nyWebSep 22, 2024 · dszc/E+ through Getty Photos. Introduction. After enduring fairly probably probably the most extreme downturn ever throughout 2024 on account of the Covid-19 pandemic, Marathon Petroleum (NYSE: MPC) began 2024 with the large Speedway divestiture and its accompanying large share buybacks, which made it seem that their … exponent calculator with workWebMar 24, 2024 · Last August, Marathon Petroleum Corporation MPC announced the sale of its Speedway business, comprising approximately 3,900 c-stores in 35 states, to Japan … bubbles and brie paWebJun 25, 2024 · FTC Orders the Divestiture of Hundreds of Retail Stores Following 7-Eleven, Inc.’s Anticompetitive $21 Billion Acquisition of the Speedway Retail Fuel Chain* … exponent definition math exampleWebThe $21-billion transaction comes with a 15-year fuel supply agreement for approximately 7.7 billion gallons per year associated with the Enon-based Speedway business, as … bubbles and brunch festWebMar 1, 2024 · CN first announced the divestiture plan on Jan. 13 after filing a description of its anticipated responsive application, also required as part of the procedural schedule. CN at that time claimed the line “is a direct competitive alternative to CP ’s route from Kansas City to Chicago, and beyond to Detroit and eastern Canada. exponent energy hsr layout