Western Refining Inc. and Northern Tier Energy LP, a wholly owned subsidiary of WNR, have received the merger consideration proration results from American Stock Transfer & Trust Company LLC, in connection with the merger of NTI and a subsidiary of WNR.
WNR agreed to pay approximately $860 million in cash and issue a total of approximately 17.1 million shares of WNR common stock, allocated among NTI unitholders as follows:
NTI unitholders who made a valid “mixed election” or made no election received $15 in cash and 0.2986 of a share of WNR common stock for each NTI unit held.
NTI unitholders who made a valid “cash election” received $15.36 in cash and 0.28896 of a share of WNR common stock.
Those who made a valid “stock election” received 0.7036 of a share of WNR common stock for each NTI common unit held.
Investors with questions about the proration can contact D. F. King & Co. Inc. at 866-416-0556.
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