Form 8-K MPLX LP For: Jul 11

Go back to Form 8-K MPLX LP For: Jul 11

Marathon Petroleum (MPC) Will Contribute $675M to MPLX, MarkWest Deal

July 13, 2015 7:57 AM EDT

Marathon Petroleum (NYSE: MPC) announced that MPLX LP (NYSE: MPLX), the midstream master limited partnership (MLP) sponsored by MPC, has signed a definitive merger agreement with MarkWest Energy Partners, L.P. (NYSE: MWE) (MarkWest) whereby MarkWest would become a wholly owned subsidiary of MPLX. The merger would be a unit-for-unit transaction, generally expected to be tax-free, plus a one-time cash payment to MarkWest unitholders, that implies an enterprise value for MarkWest of approximately $20 billion, including the assumption of debt of approximately $4.2... More