Why Marathon Petroleum Stock Is Tumbling Today
Shares of Marathon Petroleum (NYSE: MPC) slumped more than 10% by 3 p.m. EST on Thursday. Driving down the refining stock was a report that the potential buyer of its Speedway gas station business had ended negotiations.
On Feb. 20, several media outlets reported that Japanese retail group Seven & i Holdings, which runs the 7-Eleven convenience store chain, was in exclusive talks to buy Marathon Petroleum's Speedway business. The deal would have valued Speedway at $22 billion.
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Source Fool.com