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  "documentTitle": "Marathon Petroleum Corporation (MPC)",
  "authorId": "02_Elliott_Management",
  "authorName": "Elliott",
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  "presentationDate": "2019-09-24 00:00:00",
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      "kind": "callout",
      "text": "In MPLX, Marathon has a leading midstream footprint with the potential for continued high-quality, accretive growth going forward",
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      "text": "Spin-out of MPLX as a C-corp to Marathon shareholders will broaden the potential investor base and eliminate the overhang of a controlling corporate sponsor, supporting a potential valuation re-rating in line with peers.",
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      "text": "Values as of 9/24/19. MPLX shown pro forma for drop-down of Gray Oak, South Texas Gateway and Capline. Net debt and enterprise value multiples shown of 2020 estimated EBITDA.",
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