Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Marathon Oil Corp. > News item |
Marathon Oil considers splitting into two companies
By Lisa Kerner
Charlotte, N.C., July 31 - Marathon Oil Corp. is evaluating separating into two independent publicly traded companies.
One company would consist of Marathon's exploration and production, integrated gas, and oil sands mining businesses, while the other would consist of the company's refining, marketing and transportation business.
Marathon said the evaluation has been underway internally for several months. The company engaged financial adviser Morgan Stanley and the law firms of Baker Botts LLP and McKee Nelson LLP as external advisers.
According to a Marathon news release, the company's board of directors will review the evaluation results and make a decision during the fourth quarter of 2008.
Any separation is likely to occur during the first quarter 2009, the company added.
Marathon is a Houston-based integrated international energy company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.