SVNDY - Marathon Petroleum briefly falls after FTC says sale of Speedway to 7-11 may violate antitrust rules

Marathon Petroleum (MPC) briefly fell after two FTC commissioners said that the company's sale of Speedway to Seven & I's 7-Eleven (SVNDY) may in violation of U.S. antitrust rules.FTC Acting Chairwoman Rebecca Slaughter and Commissioner Rohit Chopra said in a statement that the sale, which closed today, raises "significant competitive concerns in hundreds of local retail gasoline and diesel fuel markets across the country."The FTC said it has spent "significant" resources reviewing the deal and hasn't come to an agreement with the parties and a majority of the Commissioners that would "fully resolve" the the competitive concerns."Seven and Marathon’s decision to close under these circumstances is highly unusual, and we are extremely troubled by it," Slaughter and Chopra wrote.The FTC said that the parties have closed their transaction at "their own risk." The FTC will continue to investigate to determine an appropriate path forward to address the anticompetitive harm, and will also

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Marathon Petroleum briefly falls after FTC says sale of Speedway to 7-11 may violate antitrust rules