Western Refining seeks Northern Tier buy-out

Western Refining Inc., El Paso, has offered to buy units it doesn’t already own of Northern Tier Energy LP, Tempe, Ariz., for cash and stock.

Western owns 100% of the Northern Tier general partner and about 38% of the limited partnership interest.

Northern Tier owns a 97,800 b/sd refinery in St. Paul Park, Minn., pipeline interests, and a retail network.

Western would operate Northern Tier as a wholly owned subsidiary.