CSN News – Marathon Petroleum Corp. has a significant new shareholder. In a U.S. Securities and Exchange (SEC) filing, hedge fund Jana Partners disclosed it purchased a 5.5-percent stake in the parent company of Speedway LLC. The investment equates to $636 million, or 19.7 million Marathon Petroleum shares.
Jana Partners, founded by Barry Rosenstein, is not expected to sit back and just quietly watch its investment grow, according to Bloomberg News. The hedge fund is known to be aggressive when it comes to pushing companies to sell poor-performing divisions, make major strategic moves or break up.
