Western Refining and Northern Tier Energy today announced the latter’s shareholders approved the two firms’ merger and that the transaction has closed. Western Refining — previously a 38% owner of Northern Tier — agreed in December to buy all of Northern Tier’s outstanding shares. Northern Tier owns a 97,800-barrel-per-day refinery in St. Paul Park, Minnesota.
Western Refining CEO Jeff Stevens said the merger gives the combined company “significant diversity” in terms of oil supply access and product distribution areas. He said the company expects to grow its profits throughout the remainder of the year.
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