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Crude oil refiner $MPC and $MPLX have closed the transaction in which $MPC contributed its inland marine business to $MPLX, effective March 31, 2016. In exchange, $MPLX is issuing equity to $MPC valued at $600MM for approx. $26.09 per unit, with 98% of the equity in the form of common units and the remainder in general partner units.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.