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America based Marathon Petroleum Corp Performs Better

Marathon Petroleum Corp. shares inched 0.34% higher to $61.55 Wednesday. This proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX falling 0.11% to 4,241.84 and Dow Jones Industrial Average DJIA falling 0.21% to 33,874.24.

Marathon Petroleum Corp. closed $3.29 short of its 52-week high ($64.84), which the company reached on June 10th.The stock demonstrated a mixed performance when compared to some of its competitors Wednesday, as Exxon Mobil Corp. XOM rose 0.74% to $64.26, Chevron Corp. CVX fell 0.12% to $106.27, and BP PLC ADR BP rose 0.29% to $27.23.

Marathon Petroleum Corp. trading volume (3.5 M) remained 3.9 million below its 50-day average volume of 7.4 M.This was the stock’s third consecutive day of gains. Following the terms of the conditions of the tender offer, accepted for payment an aggregate of 15,573,364 shares, representing approximately 2.4% of the shares issued and outstanding as of June 11, 2021, at a purchase price of $63.00 per share, for an aggregate purchase price of approximately $981 million, excluding fees and expenses related to the tender offer.

As Marathon Petroleum Corp accepted for purchase all the shares of common stock which were properly tendered and not properly withdrawn at a price at or below $63.00, there is no proration factor. The depositary will promptly pay for all the shares accepted for payment. Payment for shares purchased will be made in cash, without interest, but subject to applicable withholding taxes.

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