Marathon to Buy Andeavor in $23.3 Billion Oil-Refining Deal
https://www.bloomberg.com/news/articles/2018-04-30/marathon-to-buy-andeavor-in-23-3-billion-u-s-oil-refining-dealApril 30, 2018
Marathon Petroleum Corp. agreed to buy rival oil refiner Andeavor for $23.3 billion in a deal that would create the largest independent fuel maker in the U.S....
...Marathon is focused in the Midwest and Gulf Coast, while Andeavor’s refineries and pipelines are in western states. They are among the biggest beneficiaries of the shale boom, with access to abundant supplies at a discount to global prices. The combination would overtake Valero Energy Corp. as the biggest in U.S.-based oil refining capacity, generating about 16 percent of the nation’s total, according to Bloomberg calculations....
...Findlay, Ohio-based Marathon Petroleum is the third-largest U.S. refiner by market capitalization, valued at about $38.6 billion, according to data compiled by Bloomberg.Last year the company sold 5.8 billion gallons of fuel through its Speedway convenience store chain.
Andeavor Assets
San Antonio, Texas-based Andeavor, formerly known as Tesoro Corp., is the fourth-largest, worth $18.7 billion. Phillips 66 is the largest U.S. independent refiner, valued at $51.9 billion. Andeavor’s assets also include 5,300 miles of pipelines and 40 marine, rail and storage terminals....
