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Elliott calls on Marathon Petroleum to separate retail, midstream, refining businesses

( September 25, 2019, 16:01 GMT | Official Statement) -- MLex Summary: Elliott Management is calling for Marathon Petroleum to separate into three independent entities in order to unlock shareholder value, according to a letter to the oil company. Elliott, which is run by Paul Singer, called on Marathon to separate its retail convenience store and gas station chain Speedway, its midstream oil and gas storage and transportation operations, and refining operations into standalone companies. Elliott said the move could unlock $22 billion in value for shareholders.Statement follows below:...

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