7-Eleven parent to acquire Speedway for $21B

Marathon Petroleum Corp. has agreed to sell Speedway to the parent company of 7-Eleven for $21 billion. Seven & i Holdings Co., the Tokyo-based parent of 7-Eleven Inc., will add more than 3,900 Speedway stores in 35 states to its U.S. footprint as part of the all-cash transaction, the company said in a statement Sunday. Marathon said the agreement should generate about $16.5 million in after-tax cash proceeds that will be used to reduce the company's debt and return capital to shareholders. The…