Marathon Petroleum (MPC -1.5%) will spin off a chunk of its pipeline businesses in an IPO, a...

|About: Marathon Petroleum Corp. (MPC)|By:, SA News Editor

Marathon Petroleum (MPC -1.5%) will spin off a chunk of its pipeline businesses in an IPO, a move sparked by Jana Partners and others who pressed for it to find ways to unlock value that was said to be weighed down within the refining business. But in a classic case of selling the news, some MPC shareholders cashed out on today's announcement.