Jan 3 Marathon Petroleum Corp, under pressure from activist investor Elliott Management, said a special committee of its directors would review its retail business, including considering a tax-free separation.
Elliott unveiled a 4 percent stake in Marathon Petroleum in November and urged the company to consider spinning off just Speedway, a chain of gasoline stations and convenience stores, or all three of its retail, refining and pipeline businesses.
Marathon Petroleum said it expects to provide an update on the review by mid-2017. (Reporting by Arathy S Nair in Bengaluru; Editing by Shounak Dasgupta)
UPDATE 3-Mexican peso's slump hits Kansas City Southern profit
CHICAGO, Jan 20 Kansas City Southern on Friday reported a lower quarterly net profit that missed Wall Street estimates by a wide margin as a historic drop in the Mexican peso after the election of President-elect Donald Trump affected the regional U.S. railroad's operations in Mexico.
UPDATE 3-Germany says U.S. under Trump must abide by trade deals
BERLIN, Jan 20 The United States must stick to international agreements under the presidency of Donald Trump, German Finance Minister Wolfgang Schaeuble said on Friday, adding he did not expect a major trade war despite Trump's attack on German car makers.