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Big Law

7-Eleven and the FTC Come to An Agreement Over the Speedway Acquisition

Six weeks after 7-Eleven Inc. took ownership of the Speedway convenience store chain, the retailer and the Federal Trade Commission (FTC) came to a final agreement over the transaction.

Under the FTC consent order, 7-Eleven and Findlay, Ohio-based Marathon Petroleum Corp. (MPC) will divest c-stores in 293 markets across 20 states. The divesture are driven by competitive concerns related to MPC’s $21-billion sale of Enon, Ohio-based Speedway LLC to 7-Eleven.

According to the FTC complaint, the acquisition will harm competition for retail fuel sales in 293 local markets across Arizona; California; Florida; Illinois; Indiana; Kentucky; Massachusetts; Michigan; North Carolina; New Hampshire; Nevada; New York; Ohio; Pennsylvania; Rhode Island; South Carolina; Tennessee; Utah; Virginia; and West Virginia.

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