Marathon Bows Out Of Citgo Terminal Deal

Law360, New York (June 23, 2008, 12:00 AM EDT) -- Marathon Oil Corp. has decided to drop its plans to acquire several oil terminals from Citgo Petroleum Corp., ending a Federal Trade Commission antitrust inquiry into the matter, the agency said on Friday.

In a letter written on June 19, the commission said that it was closing its nonpublic investigation into the acquisition to see if it violated competition laws because Marathon had abandoned the deal.

Marathon first announced in 2007 that it was planning to purchase four oil terminals in Ohio and an ownership interest...
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