Marathon Petroleum Corp. Buyback
OLI recorded this information on 5/17/2021
Marathon Petroleum Corp.
Marathon Petroleum Corp. (NYSE: MPC) today announced that it commenced a "modified Dutch auction" tender offer to purchase up to $4.0 billion of shares of its common stock, or such lesser number of shares of its common stock as are properly tendered and not properly withdrawn, at a price not greater than $63.00 and not less than $56.00 per share of common stock, to the tendering shareholder in cash, less any applicable withholding taxes and without interest (the "Offer"). The Offer is made upon the terms and subject to the conditions described in the offer to purchase and in the related letter of transmittal. The Offer begins today, May 17, 2021, and will expire at midnight, New York City time, at the end of the day on June 14, 2021 (the "Expiration Date"), unless extended or earlier terminated by MPC.
Marathon Petroleum is an independent petroleum product refining, marketing, retail and midstream company. Co.'s operating segments include: Refining and Marketing, which refines crude oil and other feedstocks at its refineries, purchases refined products and ethanol for resale and distributes refined products through transportation, storage, distribution and marketing sevices; and Midstream, which transports, stores, distributes and markets crude oil and refined products via refining logistics assets, pipelines, terminals, towboats and barges; gathers, processes and transports natural gas; and gathers, transports, fractionates, stores and markets natural gas liquids.
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Strong Buy (3.82 out of 4)