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Holly Corporation Delivers Notice of Material Adverse Effect to Frontier Oil In Connection With Pending Merger.
PR Newswire
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August 21, 2003
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COPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Holly Corporation today announced that pursuant to its Merger Agreement with Frontier Oil Corporation , Holly has formally notified Frontier of Holly's position that the circumstances described below constitute a breach of Frontier's representations and warranties in the Merger Agreement as to the absence of litigation or other circumstances which could reasonably be expected to have a material adverse effect on Frontier. Under the Merger Agreement, if a breach has occurred and is not timely cured, Holly is not obligated to close the merger and has the right to terminate ...
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