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Western Refining buys Northern Tier for sweetened $2.43B

Dec 22, 2015 - The Deal Pipeline
Board and Executive Moves-Mergers and Acquisitions

Western Refining Inc. (WNR) and Northern Tier Energy LP (NTI) said after the markets closed Monday, Dec. 21, that they came to an agreement in which Western will buy the NTI shares it doesn't already own for a sweetened $2.43 billion.

The deal includes $15 per share in cash and 0.2986 of a share of Western stock for each of their shares, or around $28.34 per share based on NTI's price on Oct. 23, the last trading day before Western made its initial offer. The price represents an 18% premiu...