7-Eleven owner Seven & i Holdings Co. is set to buy the Speedway chain of gas stations from Marathon Petroleum for $21 billion
Japanese retail major Seven & i Holdings—which owns convenience store chain 7-Eleven—has agreed to buy the Speedway chain of gas stations from Marathon Petroleum for $21 billion, in a move that will expand the company’s footprint in the U.S.... [+]The transaction, to be paid in cash, will add about 3,900 stores to the company’s existing 9,800 locations in the U.S.
Despite the growth in Seven & i’s U.S. footprint, the deal seems to have not gone down well with investors as the company’s shares fell nearly 9% on Monday, eventually closing at 5.6% down., is that while Speedway presently benefits from its presence in gas stations, Seven & i may eventually need to invest in charging stations as consumers migrate to electric cars.
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7-Eleven Owner Agrees To Buy Gas Station Chain Speedway For $21 BillionI am a Breaking News Reporter at Forbes, with a focus on covering important tech policy and business news. Graduated from Columbia University with an MA in Business and Economics Journalism in 2019. Worked as a journalist in New Delhi, India from 2014 to 2018. Have a news tip? DMs are open on Twitter SiladityaRay or drop me an email at siladityaprotonmail.com.
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7-Eleven owner is buying Marathon Petroleum's Speedway gas stations for $21 billionThe Japanese owner of 7-Eleven is buying the Speedway chain of gas stations in one of the biggest acquisitions in the world since the coronavirus pandemic hit this year.
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Marathon Petroleum sells Speedway to 7-Eleven owner for $21 billionMarathon Petroleum has agreed to sell its Speedway gas stations in the United States to Japanese retail group Seven & i Holdings for $21 billion, the companies said, five months after the deal was put on hold amid the coronavirus outbreak.
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Marathon Petroleum to sell its gas stations to owner of 7-Eleven in $21 billion dealFuel maker Marathon Petroleum Corp. said it has agreed to sell its gas stations to the owners of the 7-Eleven convenience store chain for $21 billion in the...
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7-Eleven owner spends $21 billion to buy Speedway gas stationsSeven & i Holdings Co., the world’s largest convenience store operator, is betting $21 billion on the future of quick-stop shopping in the U.S.
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Marathon Petroleum to Sell Gas-Station Chain to 7-Eleven Owners for $21 BillionFuel maker Marathon Petroleum has agreed to sell its gas stations to the owners of the 7-Eleven convenience-store chain for $21 billion in the largest U.S. energy-related deal of the year.
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