Marathon gets green light on Hess

摘要

Marathon Petroleum Corp.'s (MPC) CEO Gary Heminger said that MPC has received notice that the Federal Trade Commission has concluded its review of the acquisition of Hess Retail Holdings LLC by MPC subsidiary Speedway LLC, which continues to prepare for a closing later this year. The company anticipates the acquisition will be a source of long-term value to MPC, resulting in Speedway growing to more than 2,700 stores in 23 states, and also adding transport operations and shipper history on various pipelines. Marathon said in May that after the completion of this deal by the end of third quarter, Speedway, the retail arm of Marathon, would leapfrog two spots to the second-largest retail gasoline company in terms of the number of company operated stores. Marathon said that its retail brand, Speedway, will have 2,733 retail stations after taking over 1,256 Hess retail sites.