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Basic Materials | Oil & Gas Refining & Marketing | USA
Marathon Petroleum's stock surges after Elliott urges action to unlock shareholder value
Shares of Marathon Petroleum Corp. MPC, shot up 6.2% toward a 4 1/2-month high in premarket trading Wednesday, after activist investor Elliott Management said it sees potential for the oil refiner's stock to rise 61% from current levels. In a letter to Marathon Chairman Gary Heminger, Elliott, which manages funds that own about 2.5% of the economic interest in Marathon, said it believes the company could unlock more than $22 billion in shareholder value with no change in operating assumptions, and an additional $17 billion in value through achieving full operating potential.
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https://www.marketwatch.com/story/marath...yptr=yahoo
![[Bild: MPCc1dl1334.png]](https://finviz.com/publish/092519/MPCc1dl1334.png)
Marathon Petroleum's stock surges after Elliott urges action to unlock shareholder value
Shares of Marathon Petroleum Corp. MPC, shot up 6.2% toward a 4 1/2-month high in premarket trading Wednesday, after activist investor Elliott Management said it sees potential for the oil refiner's stock to rise 61% from current levels. In a letter to Marathon Chairman Gary Heminger, Elliott, which manages funds that own about 2.5% of the economic interest in Marathon, said it believes the company could unlock more than $22 billion in shareholder value with no change in operating assumptions, and an additional $17 billion in value through achieving full operating potential.
...
https://www.marketwatch.com/story/marath...yptr=yahoo
