Breakingviews – Oil’s discards show the thrill of boring spinoffs
Spinning off slow-growing, low-margin businesses is often an easy decision for companies as bosses prefer to spend time on more exciting parts of a firm. The performance of oil refiners like the $54 billion Marathon Petroleum and the $48 billion Phillips 66 over the past decade, shows the best thrills for investors can lie in the discards.

Breakingviews – Oil’s discards show the thrill of boring spinoffs

Spinning off slow-growing, low-margin businesses is often an easy decision for companies as bosses prefer to spend time on more exciting parts of a firm. The performance of oil refiners like the $54 billion Marathon Petroleum and the $48 billion Phillips 66 over the past decade, shows the best thrills for investors can lie in the discards.