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| Wednesday, 1 February 2012, 20:19 HKT | |
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Source: Marathon Petroleum Corporation | |
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FINDLAY, Ohio, Feb 1, 2012 - (ACN Newswire) - Marathon Petroleum Corporation (NYSE: MPC) today announced that it is evaluating strategic alternatives to enhance shareholder value with respect to certain of its midstream assets, including, but not limited to, the possible formation and initial public offering of a master limited partnership (MLP).
If MPC determines to further pursue an initial public offering of an MLP, the company would not expect to file a registration statement before the end of the second quarter 2012.
There can be no assurance that this evaluation will lead to an initial public offering of an MLP or any other transaction, or that if any transaction is further pursued, that it will be consummated. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities. This announcement is being issued pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933.
This announcement contains certain statements that are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 concerning MPC's evaluation of strategic alternatives, including a possible initial public offering of interests in an MLP. These statements contain words such as "possible," "intend," "will", "if" and "expect" and can be impacted by numerous factors including the risk that an initial public offering or other transaction may not occur, risks relating to the securities markets generally, the impact of adverse market conditions affecting MPC's midstream business, adverse changes in laws including with respect to tax and regulatory matters and other risks. There can be no assurance that actual results will not differ from MPC's expectations. For more information concerning factors that could affect these statements see MPC's Registration Statement on Form 10, filed with the Securities and Exchange Commission. MPC undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which MPC becomes aware of, after the date hereof.
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
Copyright (c) Thomson Reuters 2012. All rights reserved.
Topic: Press release summary
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