Dec 16 Marathon Petroleum Corp. extended
its board director nomination deadline in a move that comes amid
pressure from hedge fund Elliott Management LP to break up the
In a securities filing disclosed on Friday, Marathon said it
amended its bylaws to move the deadline for shareholders to
nominate board directors to Jan. 9. The original deadline
expired on Thursday.
New York based Elliott unveiled a 4 percent stake in the
company last month and issued a set of demands it wants Marathon
to follow, including spinning off its gas station retail
business known as Speedway.
(Reporting by Michael Flaherty; Editing by Chizu Nomiyama)