Bloomberg news agency has reported that several potential buyers are interested in acquiring Speedway after its parent company Marathon Petroleum Corp announced late last year that it would be spinning off or selling the convenience store chain.
Both Seven & i Holdings Co., the Japanese-based company that controls the 7-Eleven convenience store chain, and TDR Capital, which one of its portfolio companies include U.K. gas-station operator EG Group, have expressed interest in potentially taking over Speedway, Bloomberg news agency is reporting.
According to Bloomberg sources, Seven & i Holdings Co., was considering a takeover and any acquisition of Speedway could value at more than $20 billion.
For TDR, sources told Bloomberg that the private equity firm was interested in merging Speedway with EG Group and that transaction could be be worth an estimated $26 billion.
Marathon Petroleum announced in October that it would be spinning off Speedway, which is based in Enon.
Speedway is one of the largest employers in the region and has over 2,000 employees locally. The convenience store chain has 40,000 employees nationally, Marathon spokesman Jamal Kheiry told the News-Sun at the time.
Thank you for reading the Springfield News-Sun and for supporting local journalism. Subscribers: log in for access to your daily ePaper and premium newsletters.
Thank you for supporting in-depth local journalism with your subscription to the Springfield News-Sun. Get more news when you want it with email newsletters just for subscribers. Sign up here.