Oil refining specialist HollyFrontier (NYSE: HFC) will soon add a large asset to its portfolio, according to a report from Reuters. The article, citing "people familiar with the matter," asserts ...
U.S. oil refiner HollyFrontier Corp is in advanced talks to acquire Suncor Energy Inc's Petro-Canada lubricants division for a little over $1 billion, after submitting the highest bid in an auction, according to people familiar with the matter. The potential deal would allow HollyFrontier to diversify its refining business, which has suffered as a result of a gasoline glut that has eroded profit margins, while giving Suncor a cash boost with which to pay down debt incurred as a result of recent acquisitions. The auction for the Petro-Canada lubricants business attracted other companies and private equity firms, the people said this week.
Suncor Energy Inc. (SU.TO)
Toronto - Toronto Delayed Price. Currency in CAD
|Day's Range||38.59 - 39.49|
|52wk Range||27.32 - 40.35|
|1y Target Est||N/A|
|P/E Ratio (ttm)||-20.46|
|Avg Vol (3m)||2,663,976|
|Dividend & Yield||1.16 (2.99%)|