Western Refining Inc said it would purchase a controlling stake in Northern Tier Energy LP for about $775 million to add refining capacity with direct access to cheap crude oil.Western Refining will buy a 38.7 percent stake in Northern Tier from private equity firms TPG Capital Management and ACON Investments Ltd and 100 percent of the general partner that controls Northern Tier.Western Refining shares were up nearly 10 percent at $36.51 on Tuesday morning on the New York Stock Exchange. Northern Tier shares rose 4 percent to $24.16.The Wall Street Journal first reported the deal, citing people familiar with the matter. ()
Northern Tier Energy LP, formerly Northern Tier Energy, Inc. Shares of NTI traded higher by 3.61% or $0.84/share to $24.10. In the past year, the shares have traded as low as $17.83 and as high as $33.24. On average, 1370180 shares of NTI exchange hands on a given day and today's volume is recorded at 1275598.
Tuesday Morning Corporation is a closeout retailer of upscale decorative home accessories, housewares, and famous-maker gifts in the United States. Shares of TUES traded higher by 0.96% or $0.12/share to $12.65. In the past year, the shares have traded as low as $5.51 and as high as $15.74. On average, 509460 shares of TUES exchange hands on a given day and today's volume is recorded at 26438.
Western Refining, Inc. (WNR) is an independent crude oil refiner and marketer of refined products and also operates service stations and convenience stores. Shares of WNR traded higher by 10.3% or $3.41/share to $36.51. In the past year, the shares have traded as low as $24.39 and as high as $39.42. On average, 1235810 shares of WNR exchange hands on a given day and today's volume is recorded at 1632120.
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