business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  Bloomberg reports that "7-Eleven was ordered by US antitrust regulators to sell 293 gas-station retail stores acquired earlier this year as part of its $21 billion purchase of Marathon Petroleum Corp.’s Speedway business.

"The order disclosed Friday by the US Federal Trade Commission resolves lingering concerns over the transaction. In May, FTC Acting Chairwoman Rebecca Kelly Slaughter and her fellow Democratic commissioner said the agency would continue to investigate the acquisition even as 7-Eleven said the deal had been completed.

"7-Eleven’s parent, Tokyo-based Seven & i Holdings Co., agreed in August to acquire about 3,900 Speedway outlets from Marathon to create a dominant position of almost 14,000 stores in the US and Canada."


•  Wine Spectator reports that "Delicato Family Wines, which has quietly become one of the fastest-growing wine companies in California, is now adding the sizable Francis Ford Coppola Winery portfolio. The company announced today that it is acquiring the wines and brand names of Francis Ford Coppola Winery, including the Diamond Collection, Director's Cut and Sofia, as well as the Francis Ford Coppola Winery and Virginia Dare Winery facilities and the Archimedes Vineyard, all located in Sonoma.

"The Coppola family will continue to own and operate Inglenook in Napa Valley and Domaine de Broglie, the Oregon Pinot Noir property they purchased in 2018.

"No purchase price was disclosed. The parties expect the transaction to be completed within a month."

Dare I suggest that Delicato must've made Coppola an offer he couldn't refuse?