Refiners Holly, Frontier Oil To Merge

02/22/2011 02:40 pm ET | Updated May 25, 2011

BANGALORE Feb 22 (Reuters) - Refiners Holly Corp and Frontier Oil Corp will merge to create a company with an enterprise value of $7 billion to tap into the mid-continent, Rocky Mountain and southwest refining markets.

Under the terms of the deal, Frontier shareholders will receive 0.4811 Holly shares for each share of Frontier common stock.

Holly shareholders are expected to own about 51 percent of the combined company, to be named HollyFrontier Corp. (Created by Krishna N Das)

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