Tristan R. Brown • 23 Comments
Tristan R. Brown
Mon, Sep. 19, 10:36 AM
- Holly Energy Partners (HEP +2.1%) agrees to acquire certain Woods Cross Refinery units constructed as part of the Woods Cross expansion from HollyFrontier (HFC +1.2%) for ~$275M.
- The companies say they will enter into 15-year tolling agreements for each respective unit containing minimum quarterly throughput commitments from HFC.
- HEP expects the deal to be immediately accretive to unitholders and contribute towards the achievement of its 8% distribution growth target.
Sep. 25, 2015, 2:10 PM
Jul. 30, 2015, 11:16 AM
- HollyFrontier (HFC +4.4%) is higher following a Reuters report that Tesoro (TSO -2.5%) approached the company about a potential buyout but talks were not successful.
- The companies held discussions in this year's Q1 but were scuttled after HFC's board balked at TSO's proposed offer, which is not known, and other terms, according to the report.
- TSO is said to remain interested in a deal for HFC, which would provide access to the Rocky Mountain region, where refiners have seen margins rise as they have access to crude that can be difficult to transport to traditional refining centers on the Gulf coast.
Feb. 16, 2012, 5:56 PM
Carl Icahn says he wants to put CVR Energy’s (CVI) refineries up for sale, and Oppenheimer thinks Marathon Petroleum (MPC) might be the best fit. MPC was sitting on $3B in cash at the end of Q4 and will see its capex fall as it completes large projects later this year. Icahn himself lists MPC along with WNR, HFC, TSO, VLO and COP as potential buyers.| Feb. 16, 2012, 5:56 PM