Marathon Petroleum (MPC) Agrees to Sell Speedway to 7-Eleven for $21B

FREE Breaking News Alerts from StreetInsider.com!

E-mail Address

StreetInsider.com Top Tickers, 10/22/2026

1. META
2. TSLA
3. IBM
4. TXN
5. LVS
6. QGEN
7. NDAQ
8. LRCX
9. QS
10. BRO

Go back to Marathon Petroleum (MPC) Agrees to Sell Speedway to 7-Eleven for $21B

Marathon Petroleum Corp. Announces Agreement for $21 Billion Sale of Speedway

August 2, 2020 6:04 PM EDT

FINDLAY, Ohio, Aug. 2, 2020 /PRNewswire/ -- Marathon Petroleum Corp. (NYSE: MPC) today announced that it and certain of its subsidiaries have entered into a definitive agreement with 7-Eleven, Inc., a wholly owned, indirect subsidiary of Seven & i Holdings Co., Ltd. (3382: Tokyo), whereby 7-Eleven will acquire Speedway for $21 billion in cash. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions and regulatory approvals.

"This transaction marks a milestone on the strategic priorities we outlined earlier this year," said Michael J. Hennigan, president and chief executive... More