Monday, December 2, 2024

Western Refining Pitches $2.56 Billion Buyout Offer for Northern Tier Energy

Purchased First NTI Stake in 2013 Western Refining (ticker: WNR) is attempting to enhance its Midwest footprint, proposing a $2.56 billion buyout deal of Northern Tier Energy LP (ticker: NTI). WNR already owns 100% of the partnership and 38% of NTI shares. The proposal consists of a cash-and-stock offer that includes $17.50 and 0.2266 shares of WNR in exchange for

Einhorn’s Greenlight Re-Hedges Oil, Natural Gas

From Bloomberg David Einhorn is revisiting page one of the hedge fund playbook: he’s hedging. In the midst of his worst year since the financial crisis, the money manager added derivatives positions that would protect against a further decline in natural gas and an increase in the price of oil. The contracts were disclosed in a filing on Oct. 23