Tag Archives: Hess

Is Marathon Petroleum’s Speedway Spinoff Destined For A Sale?

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It’s been quite the ride for Marathon Petroleum’s (MPC) planned spinoff of its convenience store business, Speedway. The idea was studied as part of a strategic review in 2017, but ultimately the board determined it wasn’t in the company’s best interests at the time. That decision was surprising given Elliott Management‘s involvement and initial support for the idea.… Read More »

How Convenient! Couche-Tard Acquiring CST Brands

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After pressure from activist firm Engine Capital, CST Brands (CST), a 2013 spinoff from Valero (VLO), announced in early March that it was considering its strategic options. Based on this announcement, Jim Cramer was willing to give his blessing ‘to speculate’ on the name even though it wasn’t ‘exactly what you would call cheap’. While that hardly seemed… Read More »