7-Eleven Owner to Buy Marathon’s Speedway for $21 Billion (2)

Aug. 2, 2020, 11:53 PM

Seven & i Holdings Co., the world’s largest convenience store franchiser, agreed to buy Marathon Petroleum Corp.’s Speedway gas stations for $21 billion, forging ahead with one of the year’s biggest deals even as the pandemic depresses economic activity in the U.S.

Seven & i, which operates internationally through its U.S.-based 7-Eleven Inc. unit, said in a statement it expects the all-cash transaction to close in the first quarter of next year. The company will hold a press conference at 9 a.m. Tokyo time Monday.

The deal is the second-largest purchase of a U.S. target this year and ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.