Western Refining Logistics (WNRL) stock prices updated...

Western Refining Logistics stock price

Western Refining Logistics latest news:

  • 08/14/2017 05:10:19

    Andeavor Logistics to buy Western Refining in a deal valued at $1.8 billion, including debt

    Refining company Andeavor and pipeline company Andeavor Logistics LP announced Monday an agreement in which Andeavor Logistics will buy master limited partnership Western Refining Logistics LP in a deal with an enterprise value of $1.8 billion, including the assumption of debt. Under terms of the deal, Western Refining unitholders will receive 0.5233 Andreavor Logistics shares for each Western Refining shares they own. Based on Friday's closing prices, the deal values Western Refining shares at $25.28, which is a 6.4% premium. Once the deal closes, Andeavor Logistics will issue 78.0 million common units to Andeavor to cancel Andeavor Logisitics' incentive distribution rights. Andeavor's stock has gained 8.0% year to date through Friday, while Andeavor Logistics shares have lost 4.9%, Western Refining shares have climbed 11% and the S&P 500 has gained 9.0%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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