Murphy Oil’s (MUR) board of directors formally approved the spinoff of its US retail marketing business, Murphy USA Inc, recently. The distribution is expected to be tax free and is set for August 30th to shareholders of record on August 21st. The new company will trade on the NYSE under the ticker ‘MUSA’ and MUR shareholders will receive… Read More »
After deciding to pursue a spinoff, one of the next big decisions facing a company is figuring out who will lead the new company. After all, one of the ‘value drivers’ of a spin is highly focused management…but that only helps if they know what they are doing. That is why most companies just end up promoting from… Read More »
Spinoffs take awhile to execute and the world doesn’t just pause for these companies. Murphy Oil USA, the downstream arm of Murphy Oil (MUR) set to be spun out next year, announced that it entered into an agreement with Wal-Mart (WMT) to open up over 200 new locations at existing Walmart stores. The program is expected to be… Read More »
After close to a year of deliberation, Murphy Oil (MUR) announced that its board of directors approved the spin off of its downstream subsidiary, Murphy Oil USA. The transaction is expected to be completed in 2013 and is a continuation of the process started earlier this year when Murphy announced that it was ‘considering its strategic options’ for its retail unit. As a… Read More »
‘Everyone else is doing it’. Unfortunately, that line never worked for me as a child [it was always met with something like ‘if everyone else was jumping off a bridge…’ or ‘well, you are part of this family’], but apparently it is the new motto for integrated energy companies. Many players in the space appear to be operating… Read More »