| Marathon buys Hess stations in $2.87 billion deal | |
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FINDLAY, Ohio (AP) -- Marathon is buying Hess' retail operations, the largest chain of company operated gas stations and convenience stores on the East Coast, for $2.87 billion.
The deal, which is being orchestrated under subsidiary Speedway LLC, will expand Marathon's retail operations from nine states to 23 states on along coast and in the Southeast.
Hess Corp. has been reshaping itself as a pure production and exploration company since coming under pressure from hedge fund Elliott Capital Management and said last year that it would be selling its retail operations.
The deal announced Thursday consists of $2.37 billion in cash, an estimated $230 million of working capital and $274 million of capital leases.
Marathon Petroleum Corp., a refiner, is based in Findlay.
The acquisition is expected to close late in the third quarter.
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Hess Corporation
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CODE : HES |
ISIN : US42809H1077 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Hess Corp. est une société d’exploration minière et de pétrole basée aux Etats-Unis D'Amerique. Hess Corp. est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 51,2 milliards US$ (47,9 milliards €). La valeur de son action a atteint son plus bas niveau récent le 17 novembre 1989 à 10,06 US$, et son plus haut niveau récent le 26 avril 2024 à 162,53 US$. Hess Corp. possède 315 053 615 actions en circulation. |