Cravath represented Ashland Inc. in connection with the proposed transfer of its 38 percent interest in Marathon Ashland Petroleum LLC, its maleic anhydride business and 61 Valvoline Instant Oil Change centers to Marathon Oil Corporation in a transaction structured to be tax free and valued at approximately $3 billion.
The partners who worked on this matter were Susan Webster and James C. Woolery on corporate issues and Stephen L. Gordon and Michael L. Schler on tax issues. The deal was announced on March 19, 2004.
