Company News: Frontier Oil, Holly Corp. to merge in $450 million deal

Frontier Oil Corp., Houston, and Holly Corp., Dallas, have agreed to merge in a cash and stock deal valued at about $450 million. The resulting combined company, to be called Frontier Oil Corp., will own five refineries having a combined capacity of more than 260,000 b/d.Holly stockholders are expected to receive one share of Frontier common stock for each outstanding share of Holly common stock, plus a $172.5 million cash payment. The stock and cash merger consideration would have a value of $28.96/share, representing a premium of 31% to Holly's stockholders based on Mar. 28 closing prices.Previously, Holly agreed to acquire ConocoPhillips's 25,000 b/d Woods Cross refinery near S...

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.


Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected