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  "documentTitle": "Marathon Petroleum Corporation (MPC)",
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  "authorName": "Quentin Koffey",
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      "text": "Marathon is severely undervalued and there are readily available steps by which the Board can unlock $14 – $19 billion in value for shareholders (yielding a ~60 – 80+% increase to today’s stock price).",
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      "text": "we believe Marathon is severely undervalued and that there are readily available steps by which the Board can unlock $14 – $19 billion in value for shareholders (yielding a ~60 – 80+% increase to today’s stock price).",
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      "text": "I am writing to you on behalf of Elliott Associates, L.P. and Elliott International, L.P. (together, “Elliott” or “we”), collectively the beneficial owners of approximately 4% of the common stock and equivalents of Marathon Petroleum Corporation...",
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      "text": "In the accompanying presentation we lay out how public equity market valuations of comparable companies clearly support valuations of ~$10.5 billion for Speedway, ~$10.5 billion for Marathon’s refining operations, and ~$26 billion for Marathon’s midstream holdings...",
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      "text": "Marathon shareholders today receive only a fraction of the value of Marathon’s businesses. Since 2011, Marathon has substantially grown its percentage of stable, non-refining cash flows through acquisitions and capital investment, such that today they represent ~56% of 2017 unconsolidated estimated EBITDA.",
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      "text": "1 Elliott beneficially owns 21.27 million shares. Ownership percentage based on 3Q2016 10-Q share count of 527,815,189.",
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