Cases & Deals

MPLX LP acquires Andeavor Logistics LP

Clients Marathon Petroleum Corporation

Jones Day represented Marathon Petroleum Corporation, one of the largest independent refining, marketing and midstream companies in the U.S., in the combination of its two master limited partnerships, MPLX LP (NYSE: MPLX) and Andeavor Logistics LP (NYSE: ANDX) in a unit-for-unit transaction at a blended exchange ratio of 1.07x, representing an equity value of approximately $9 billion and an enterprise value of $14 billion for ANDX. This transaction simplifies the companies into a single leading, large-scale, diversified midstream company with an expanded geographic footprint and enhanced long-term growth opportunities.

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