Marathon petroleum buys out markwest energy

MARATHON Petroleum will buy natural gas processor MarkWest Energy Partners for about $15.6bn (£10.1bn), a deal that will create the fourth-largest master limited partnership (MLP) by market value. An MLP is a publicly traded limited
partnership, or a limited liability company, that pairs the tax benefits of a partnership with the fundraising ability and liquidity of a public company. The new MLP will be worth $21bn.