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