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HOLLYFRONTIER INVESTOR ALERT By the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates HollyFrontier Corporation - HFC
August 3, 2021 GMT
NEW ORLEANS--(BUSINESS WIRE)--Aug 3, 2021--
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of Sinclair Oil Corporation and Sinclair Transportation Company with HollyFrontier Corporation (NYSE: HFC) (“the Company”) and Holly Energy Partners, L.P. (NYSE: HEP). Under the terms of the proposed transaction, HollyFrontier will form a new parent company, named “HF Sinclair Corporation” (“HF Sinclair”), which will replace HollyFrontier as the public company trading on the NYSE and existing HollyFrontier shares will automatically convert on a one-for-one basis into shares of common stock of HF Sinclair, and HF Sinclair will issue approximately 60.2 million shares of common stock to Sinclair, representing 26.75% of the pro forma equity of HF Sinclair with a transaction value of approximately $1.8 billion. KSF is seeking to determine whether the merger and the process that led to it are adequate and fair to the Company’s shareholders.