Barry Rosenstein’s Jana Partners buys 5.5% stake in Marathon Petroleum
|January 20th, 2012||
|Activist hedge fund manager Jana Partners LLC revealed this week that it owns a 5.5% stake in Marathon Petroleum Corp. According to a filing with the SEC, JANA Partners started buying up shares of the refining company in late November of 2011, eclipsing the 5% threshold on January 9th of this year.|
New York-based JANA, which is run by Barry Rosenstein, has led many shareholder activist campaigns. Most recently, the firm targeted El Paso Corp, where it successfully convinced management to split apart its businesses. The break-up plans were progressing along, until Kinder Morgan Inc. agreed to buy all of El Paso. Notably, JANA was recently ranked #84 on HedgeTracker's List of Top Equity Hedge Funds.
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