Andeavor Completes $35.6 Billion Merger Agreement with Marathon Petroleum Corp.

October 1, 2018

S&C represents Andeavor in its definitive merger agreement with Marathon Petroleum Corp. under which MPC acquired all of Andeavor's outstanding shares, representing a total equity value of $23.3 billion and total enterprise value of $35.6 billion. The S&C team on the transaction was led by Frank Aquila and Audra Cohen, along with Polina Demina, Natalie Lum-Tai, Olivia Xie and Danyang Zhao. Ronald Creamer, along with Alexander Apostolopoulos advised on tax matters; Heather Coleman, along with Sarah Remmer Long and Traci Biedermann advised on executive compensation and benefits matters; and Catherine Clarkin, along with Jennifer Lee and So Yeon Kim advised on securities matters.