The Law Firm Of Weiss & Lurie Investigates Proposed Merger Of Frontier Oil Corporation And Holly Corporation
Weiss & Lurie, a national class action and shareholder rights law firm
with offices in New York City and Los Angeles, is investigating possible
breaches of fiduciary duty and other violations of law by members of the
Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Frontier Oil Corporation (“Frontier” or the “Company”) (NYSE: FTO) arising from its proposed merger with Holly Corporation (“Holly”) (NYSE: HOC). Under the terms of the proposed transaction, Frontier shareholders will receive 0.4811 Holly shares for each Frontier share they hold, or approximately $26.99 per Frontier share, excluding the issuance of a special dividend. Weiss & Lurie is investigating whether Frontier’s Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. Notably, the total merger consideration is significantly below the $28.12 at which Frontier shares closed on the last market day before the transaction was announced, and is drastically lower than the target price of $33.00 per share recently set by at least one industry analyst. If you own Frontier shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at firstname.lastname@example.org or by telephone at (888) 593-4771. Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.
Frontier Oil Corporation (NYSE:FTO) hit a new 52-week high Thursday as it is currently trading at $33.43, above its previous 52-week high of $33.37 with 1.1 million shares traded as of 11:52 a.m. ET. Average volume has been 2.8 million shares over the past 30 days.
Frontier Oil Corporation (NYSE:FTO) hit a new 52-week high Wednesday as it is currently trading at $32.41, above its previous 52-week high of $32.37 with 1.1 million shares traded as of 11:16 a.m. ET. Average volume has been 2.7 million shares over the past 30 days.
The ex-dividend date for Frontier Oil Corporation (NYSE:FTO) is tomorrow, June 17, 2011. Owners of shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $30.13 as of 9:53 a.m., the dividend yield is 0.4%.