By Benjamin Horney

Law360 (March 19, 2020, 3:34 PM EDT) -- The deals rumor mill is often overflowing with transactions that are reportedly close to being inked, but with so many rumors it can be hard to know which ones to stay on top of every week.

Here, Law360 breaks down the deal rumors from the past week that you need to be aware of.

Marathon Petroleum Mulls $15B Asset Sale

Marathon Petroleum Co. is considering a sale of the assets of pipeline business MPLX LP, and a deal could be worth up to $15 billion, according to a March 11 Reuters report. The report said a divestiture is being considered to give Marathon an injection of cash in the midst of the ongoing coronavirus pandemic and a period in which oil prices have sunk. The assets up for grabs include MPLX's gathering and processing business, and Intrepid Investment Bankers is advising Marathon, the report said. Marathon could sell either a minority or majority stake in MPLX, the report noted. Marathon recently faced pressure from activist Elliott Management Corp., which in September called on the company to split into three separate business lines.

SoftBank Pulls Out Of Part Of $9.5B WeWork Rescue Package

SoftBank Group Corp. is abandoning part of its planned $9.5 billion rescue package for WeWork, with the Wall Street Journal reporting Wednesday that the decision was made because of "several regulatory investigations of the office-sharing company." According to the report, SoftBank is wary of regulatory investigations into WeWork, including from the U.S. Securities and Exchange Commission and the U.S. Department of Justice. SoftBank believes the probes give it a reason to abandon the purchase of $3 billion worth of WeWork shares from existing investors, the report said. SoftBank sent notice to WeWork investors, the report said, although it's possible the move is a negotiating tactic since SoftBank didn't completely cancel the deal. The bailout was announced in October, with SoftBank saying it would take an 80% stake in WeWork as part of a $9.5 billion rescue package for the company.

Gray Television Withdraws $8.5B Bid For Tegna

Gray Television Inc. is dropping out of the battle to buy U.S. broadcasting company Tegna Inc. because of concerns related to the coronavirus pandemic, according to a Tuesday report from Reuters. According to the report, the decision to withdraw its bid, which valued Tegna at about $8.5 billion, including debt, came after Gray's stock price fell amid the U.S. coronavirus outbreak. Private equity firm Apollo Global Management is among the suitors still interested in inking a deal for Tegna, the report said, and although Tegna is engaging with bidders, there's no certainty any deal will get done in the near future. Last week, reports named Gray Television and Apollo as two of the primary suitors.

Siam Cement Puts $1B IPO For Packaging Biz On Hold

Thailand's Siam Cement Group PCL is hitting the pause button on plans for a $1 billion initial public offering of shares in its packaging business because of the global coronavirus pandemic, according to a Tuesday report from Reuters. The report said the company was gearing up for an IPO that was expected to take place during the first half of this year, but is now delaying the flotation until the capital markets can stabilize. According to the report, a spokeswoman said, "With travel restrictions, volatile financial markets, and the COVID-19 measures, SCG Packaging continues to monitor the IPO timeline."

Disney Desires Sale Of Digital Advertising Biz TrueX

Walt Disney Co. is seeking to sell digital advertising company TrueX Inc., which it acquired as part of last year's megadeal with 21st Century Fox Inc., according to a Tuesday report from the Wall Street Journal. TrueX makes interactive digital advertisements, where users interact with an ad prior to viewing content in order to watch the content with fewer ads. No potential purchase price was disclosed, and the report noted that Disney's focus on selling the company started before the coronavirus outbreak, meaning a deal could be pushed back or even pulled off the table.

CVC Joins Planned Deal To Buy Mobile Game Maker

CVC Capital Partners is teaming with mobile game maker iDreamSky Technology Ltd. to launch a $1.3 billion bid for rival game company Leyou Technologies Holdings Ltd., according to a Thursday report from Reuters. According to the report, the companies intend to make an offer as soon as next month, and the bid is expected to represent a premium of about 30% to Leyou's average share price since January. Tencent Holdings Ltd. is a backer of iDreamSky, the report noted, and iDreamSky plans to own a majority stake in the combined business once it merges with Leyou. CVC will hold a minority stake in the combined entity, the report said.

Italian Government To Assume Control Of Alitalia

The government of Italy is planning to take complete control of Alitalia because the coronavirus pandemic has forced the embattled airline to scrap plans to find a buyer that could rescue it from a difficult financial position, according to a Sunday report from Reuters. According to the report, the Italian government is closing in on an agreement to assume control of Alitalia. The government will likely take control of the company's aviation and land operations through a public vehicle, the report said.

JD.com Aims For Listing As China Recovers From Coronavirus Outbreak

Chinese e-commerce giant JD.com Inc. is planning a second listing in Hong Kong and has tapped Bank of America and UBS AG to assist with plans, according to a Monday report from Reuters. According to the report, a listing could take place as soon as midway through this year. The planned flotation comes as China is in the process of recovering from the coronavirus pandemic that has swept across the globe. JD.com has a market capitalization of about $58.2 billion, the report said.

--Additional reporting by Chelsea Naso and Tom Zanki. Editing by Marygrace Murphy.

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