M&A Deal Summary

Marathon Petroleum Acquires Andeavor

On April 30, 2018, Marathon Petroleum acquired energy services and equipment company Andeavor for 35.6B USD

Acquisition Highlights
  • This is Marathon Petroleum’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Marathon Petroleum’s largest (disclosed) transaction.
  • This is Marathon Petroleum’s 2nd transaction in the United States.
  • This is Marathon Petroleum’s 1st transaction in Texas.

M&A Deal Summary
Date 2018-04-30
Target Andeavor
Sector Energy Services and Equipment
Buyer(s) Marathon Petroleum
Deal Type Merger
Deal Value 35.6B USD
Advisor(s) Goldman Sachs (Financial)
Sullivan & Cromwell (Legal)

Target

Andeavor

San Antonio, Texas, United States
Tesoro's corporate headquarters in San Antonio, Texas.
Tesoro's corporate headquarters in San Antonio, Texas.
Andeavor is a refiner and marketer of petroleum products. Andeavor operates six refineries in the western United States with a combined capacity of 850,000 barrels per day. Andeavor was founded in 1968 and is based in San Antonio, Texas.

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Buyer(S) 1

Buyer

Marathon Petroleum

Findlay, Ohio, United States
Category Company
Founded 1887
Sector Energy Services and Equipment
Employees18,200
Revenue 148.4B USD (2023)
DESCRIPTION
Marathon Petroleum's corporate headquarters in Findlay, Ohio.
Marathon Petroleum's corporate headquarters in Findlay, Ohio.

Marathon Petroleum engages in refining, transporting, and marketing petroleum products primarily in the United States. Marathon Petroleum was founded in 1887 and is based in Findlay, Ohio.

DEAL STATS #
Overall 2 of 2
Sector (Energy Services and Equipment) 2 of 2
Type (Merger) 2 of 2
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-01 MarkWest Energy Partners

Denver, Colorado, United States

MarkWest Energy Partners L.P. is a master limited partnership that owns and operates midstream service businesses. MarkWest Energy Partners was founded in 1988 and is based in Denver, Colorado.

Buy $20.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-02 Speedway

Enon, Ohio, United States

Speedway is a US convenience store chain with approximately 3,900 stores located in 36 states. The Company was formed in 1997 and is headquartered in Enon, Ohio.

Sell $21.0B
Mergr

Product

Company

Legal