We will probably be seeing more of these types of business unions take place in the near future.

Houston-based Marathon Oil Corporation and The Andersons, Inc. of Ohio have signed a letter of intent which “could lead to the formation of a 50/50 joint venture that would construct and operate a number of ethanol plants.” According to a press release, the formation of the joint venture and other related activities are subject to approval by each company’s board of directors and the execution of definitive agreements.