Marathon Petroleum Corporation Urges Shareholders to Reject Tender Offer by TRC Capital Corporation
(Thomson Reuters ONE) -
FINDLAY, Ohio, Feb. 24, 2012 - Marathon Petroleum Corporation (NYSE: MPC) has
received notification of an unsolicited mini-tender offer by TRC Capital
Corporation (TRC Capital) to purchase up to 2,000,000 shares (approximately
0.58 percent) of MPC's outstanding common stock at a price of $41.50 per share.
The offer price was 4.47 percent below the closing price on February 17, 2012,
the day prior to the offer.
MPC does not endorse TRC Capital's tender offer and recommends that shareholders
do not tender their shares. MPC is not associated with TRC Capital, this
unsolicited tender offer or the documentation related to this offer.
The Securities and Exchange Commission (SEC) has cautioned investors about
tender offers of this type, so-called "mini-tender offers," noting that "some
bidders make mini-tender offers at below-market prices, hoping that they will
catch investors off guard if the investors do not compare the offer price to the
current market price." The SEC's Investor Tips regarding mini-tender offers may
be found on the SEC's website at www.sec.gov/investor/pubs/minitend.htm. MPC
encourages shareholders to review this Investor Tip as well as the information
concerning mini-tender offers found at
www.sec.gov/divisions/marketreg/minitenders/sia072401.htm, as tender offers for
less than 5 percent of a company's stock typically do not provide the same
disclosure and procedural protections that larger tender offers provide.
MPC encourages shareholders who are considering this offer to consult with their
financial advisor prior to making an investment decision and to exercise caution
with respect to this offer.
About Marathon Petroleum Corporation
MPC is the nation's fifth-largest refiner with a crude capacity of approximately
1.2 million barrels per day in its six-refinery system. Marathon brand gasoline
is sold through more than 5,000 independently owned locations across 18 states.
In addition, Speedway LLC, an MPC subsidiary, owns and operates the nation's
fourth largest convenience store chain, with approximately 1,375 locations in
seven states. MPC also owns, operates, leases or has ownership interest in
approximately 9,400 miles of pipeline. MPC's fully integrated system provides
operational flexibility to move crude oil, feedstocks and petroleum-related
products efficiently through the company's distribution network in the Midwest,
Southeast and Gulf Coast regions. For additional information about the company,
please visit our website atwww.marathonpetroleum.com.
Investor Relations Contacts:
Pamela Beall (419) 429-5640
Beth Hunter (419) 421-2559
Media Contacts:
Angelia Graves (419) 421-2703
# # #
MPC Urges Rejection of Tender Offer:
http://hugin.info/147922/R/1588720/498774.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Marathon Petroleum Company via Thomson Reuters ONE
[HUG#1588720]
Unternehmensinformation / Kurzprofil:
Datum: 24.02.2012 - 14:28 Uhr
Sprache: Deutsch
News-ID 118331
Anzahl Zeichen: 3690
contact information:
Town:
Findlay, Ohio
Kategorie:
Business News
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