[NY Times]
Hess to Sell Gas Stations as Part of a Shift in Strategy
Known for its white-and-green gas stations, the Hess Corporation announced on
Monday a plan to sell off its retail and refining operations and focus
primarily on oil production.
The streamlining comes as it seeks to fight off an activist investor, the hedge
fund Elliott Management, although Hess presented the new strategy as the
culmination of a multiyear campaign.
.....
The retail operation, which includes more than 1,350 gas stations primarily in
the Northeast, the Carolinas and Florida, accounts for just 4 percent of the
company's revenue. (While the fate of the toy Hess trucks remains in question,
the company expects the 2013 models to be ready in time for Christmas,
batteries included.)
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rest:
http://dealbook.nytimes.com/2013/03/04/hess-to-sell-refining-arm-and-revamp-its-board/
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