September 25, 2015
NEW YORK (TheStreet) -- Shares of HollyFrontier (HFC - Get Report) were gaining 4.5% to $50.49 on heavy trading volume Friday following a report that Tesoro (TSO) is interested in purchasing the smaller oil and gas refinery company.
Tesoro is rumored to have "renewed" interest in taking over HollyFrontier, according to Reuters. The news source said it was unable to verify the rumor, however. It is unclear if Tesoro has approached HollyFrontier about a potential takeover.
Earlier this year HollyFrontier's board rejected terms Tesoro offered to acquire the company, according to Reuters. Tesoro's offer price was not disclosed at the time.