Directors of Marathon Petroleum Corp. unanimously agreed to remain as MPLX’s general partner, brushing away spinoff pressure from activist shareholders who say the MLP subsidiary would be better off as a standalone company. MPC’s review determined that the existing process of dropping down assets to MPLX has unlocked $13 billion in value, including $7 billion of cash. That’s more to the general partner than a spinoff would contribute, MPC said. Reuters reported March 11......
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