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Marathon Petroleum to purchase Andeavor for $23B

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Marathon Petroleum plans to buy San Antonio-based Andeavor for $23.3 billion.

“This transaction combines two strong, complementary companies to create a leading U.S. refining, marketing and midstream company, building a platform that is well-positioned for long-term growth and shareholder value creation,” said Marathon Chairman and CEO Gary Heminger.

Andeavor CEO Gregory Goff would become executive vice chairman and board member.

Read more from the San Antonio Express-News.

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