Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

FTC orders 7-Eleven, Marathon to divest over 200 retail fuel outlets

Stock MarketsJun 25, 2021 06:25PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The logo of 7-Eleven is seen at a 7-Eleven convenience store in Tokyo, Japan December 6, 2017. REUTERS/Toru Hanai/File Photo/File Photo

By Jessica Resnick-Ault

(Reuters) - The U.S. Federal Trade Commission on Friday ordered 7-Eleven to sell over 200 retail outlets following its $21 billion acquisition of the Speedway fuel chain from Marathon Petroleum (NYSE:MPC).

Marathon Petroleum, which owned the Speedway chain, and 7-Eleven, owned by Japan's Seven & I Holdings Co Ltd, announced last month they had closed the $21 billion deal involving some 3,800 stores in 36 states.

Two top FTC officials had previously said the deal was potentially illegal, Reuters reported.

In a proposed consent order with the companies, the FTC said 7-Eleven and Marathon are required to divest 124 retail fuel outlets to Anabi Oil, 106 retail fuel outlets to Cross America Partners and 63 retail fuel outlets to Jacksons Food Stores.

Because the U.S. gasoline and diesel markets are highly localized, the complaint alleged that the acquisition will harm competition in 293 markets across 20 states.

FTC orders 7-Eleven, Marathon to divest over 200 retail fuel outlets
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Dennis Touey
Dennis Touey Jun 27, 2021 10:08PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wow, is 7 eleven still in business? To be honest i know of only 2 stores that still exist. All the rest are wawa's and royal farms. I guess this has no affect in the north east part of the country.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email