Findlay, Ohio — Marathon Petroleum Corp. has entered into a definitive agreement with 7-Eleven Inc., whereby 7-Eleven will acquire the convenience store chain Speedway for $21 billion in cash. The transaction is expected to close in the first quarter of 2021. Ohio-based Marathon expects the sale to result in after-tax cash proceeds of approximately $16.5 billion and to use the proceeds to both repay debt and return capital to shareholders. The arrangement includes a 15-year fuel supply agreement for approximately 7.7 billion gallons per year associated with the Speedway business. …
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Detroit — Campbell Oil Company, owners of the Minuteman Food Mart/Marathon convenience store, partnered with Little Caesars Enterprises, Inc. to open the first Little Caesars Express site in the nation in June 2016, located inside one of its convenience stores in Supply, N.C.