Midstream & Transport Monitor - November 6, 2015
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The former chairman of MarkWest Energy Partners LP’s (NYSE: MWE) management company wants to scuttle a multibillion dollar merger between MarkWest and Marathon Petroleum Corp. (NYSE: MPC) and its MLP, MPLX LP (NYSE: MPLX).
John Fox, former CEO, chairman and director of MarkWest Energy GP LLC, which manages the MarkWest MLP, questioned why the MLP is selling itself for “pennies on the dollar.”
In July, Marathon and MPLX said they would purchase MarkWest Energy Partners for a deal then worth $15.7 billion.