(Adds details on the deal)
May 8 (Reuters) - U.S. oil refiner Marathon Petroleum Corp said on Wednesday MPLX would buy Andeavor Logistics LP for $9 billion, merging its two midstream units that transport, store and market crude oil and refined products through pipelines, terminals and trucking operations. In October, the refiner said it planned to assess options for the two master limited partnerships, which could include either one buying the other.
Under the terms of the agreement, Andeavor shareholders will receive 1.135 common units of MPLX for each common unit held and Marathon will receive 1.0328 MPLX common units for each ANDX common unit held.
The deal has a total enterprise value of $14 billion.
By buying rival Andeavor last year for over $23 billion, the refiner gained more exposure to the areas where Andeavor Logistics held its assets, including the Bakken region and the largest oilfield in the United States, the Permian basin.
Mike Hennigan will remain President of the combined entity and lead all midstream activities, the company said. (Reporting by Debroop Roy in Bengaluru; Editing by James Emmanuel)