Marathon Petroleum and Andeavor merger closer to final approvals
7/3/2018 12:38:05 PM
FINDLAY, Ohio and SAN ANTONIO, /PRNewswire/ -- Marathon Petroleum Corp. and Andeavor announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired in connection with the proposed transaction whereby MPC would acquire all of Andeavor's outstanding shares.
The parties have also received the necessary regulatory clearance by the Canadian Commissioner of Competition pursuant to the Competition Act (Canada).
Together, these matters satisfy certain conditions for the closing of the proposed merger.
The transaction is still expected to close in the second half of 2018, and remains subject to customary closing conditions, including approval by Andeavor shareholders of the proposed merger, approval by MPC shareholders of the new MPC shares to be issued in connection with the transaction, and the receipt of other required regulatory approvals.
From the Archive
Comments