HF Sinclair Corporation (NYSE: DINO) (“HF Sinclair”) announced today that it has submitted a non-binding proposal to acquire all of the outstanding common units (“Common Units”) of Holly Energy Partners, L.P. (NYSE: HEP) (“HEP”) not beneficially owned by HF Sinclair or its affiliates in exchange for common stock, par value $0.01 per share (“Common Stock”), of HF Sinclair. Under the proposal, HF Sinclair proposes to effect the transaction at a fixed exchange ratio of 0.3714 newly issued shares of Common Stock per each publicly held Common Unit, which was derived using the 30-day volume weighted average prices for each security as of market close on May 3, 2023 (the “Proposed HEP Transaction”).
HF Sinclair Corporation Announces Proposal to Acquire All Outstanding Common Units of Holly Energy Partners, L.P.
May 04, 2023
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