Valero Energy Corp. (NYSE: VLO – News) has reached an agreement with Murphy Oil Corp. (NYSE: MUR – News) to acquire its final refinery in the U.S. Post acquisition, the U.S. independent refiner will widen its footprint in the U.S. Gulf region.
Per the agreement, Valero will pay $325 million for Murphy’s refinery in Meraux, Louisiana. The deal also includes the purchase of associated logistics and inventory for approximately $300 million, subject to the closing adjustments.
Regards,
Don
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