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Holly Corporation and Frontier Oil Corporation Announce Merger of Equals
Holly Corporation (NYSE: HOC) ("Holly") and Frontier Oil Corporation (NYSE: FTO) ("Frontier") today announced that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine in an all-stock merger of equals transaction. Based on the closing market prices for the shares of both companies on Friday, February 18, 2011, and their debt levels as of December 31, 2010, the new company would have an enterprise value of $7 billion.

date.png22 Feb 2011 14:10 | comments.png 0 Comments | tags.png deals frontier holly refinery usa [ More ]
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