Byline: Kelly Holman and Claire Poole
USX Corp. of Columbus, Ohio, said April 24 that it was separating its steel and energy businesses, USX-U.S. Steel Group and USX-Marathon Group, into separate companies as part of a corporate reorganization.
Separating USX's steel assets from its oil assets could make Houston-based Marathon Oil Co. a prospective takeover target, some analysts said.
"In this day and age, there's no room for a Marathon-sized oil company," said Fadel Gheit, an analyst at Fahnestock & Co. in New York. "You either have to get bigger or get eaten by a larger company. It's the end of the line for these sized companies."