Deals of the day: mergers and acquisitions
MPC•CVR Energy said it would buy two refineries and Marathon Petroleum’s marketing business for about $4.2 billion. Other reported deals included Marvell Technology’s $115 billion all-stock acquisition of Lumentum, including debt, and sales of stakes in TOGG and the North West Shelf project.
1. Deals reported Tuesday
CVR Energy said it would buy two refineries and Marathon Petroleum’s marketing business for about $4.2 billion, nearly doubling its refining capacity. Vestel Elektronik and Anadolu Group Holding agreed to sell their stakes in electric vehicle maker TOGG to Turkey’s sovereign wealth fund and Turkcell for a combined €368 million ($412 million). Abu Dhabi’s XRG will buy Shell’s stake in the Woodside Energy-operated North West Shelf project for $1.45 billion. Marvell Technology is buying Lumentum in a $115 billion all-stock deal, including debt.
