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Elliott's Singer Launches Breakup Campaign at Marathon Petroleum

Fresh off an activist success at LifeLock (LOCK) , insurgent manager Elliott Management LLC's Paul Singer on Monday launched a campaign urging Marathon Petroleum (MPC) to take a look at splitting itself up into three businesses.

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Shares of the Findlay, Ohio-based petroleum company shot upwards on the announcement of the campaign, trading up over 5% to $45.73 a share early Monday. The activist fund...