Sinclair Oil Corporation was mostly acquired by HollyFrontier.
The Acquisition of Sinclair Oil Corporation
In a significant industry event, the long-standing Sinclair Oil Corporation was largely acquired by HollyFrontier. This acquisition marked a new chapter for Sinclair, leading to its eventual defunct status in 2022.
Background of Sinclair Oil Corporation
Sinclair Oil Corporation, a prominent American oil company, had a rich history spanning over a century. It was founded by Harry F. Sinclair on May 1, 1916. Over its lifespan, the company underwent several structural changes in its ownership and operation:
- Public: From its founding until 1969
- Subsidiary: 1969–1976
- Private: 1976–2022
The company was officially deemed defunct on March 15, 2022, following the completion of its acquisition by HollyFrontier.
Key Facts About Sinclair Oil Corporation
To provide a clear overview of the company, here are some essential details:
| Aspect | Detail |
|---|---|
| Founded | May 1, 1916 |
| Founder | Harry F. Sinclair |
| Fate | Mostly acquired by HollyFrontier |
| Defunct Date | March 15, 2022 |
| Company Type | Public (until 1969), Subsidiary (1969–1976), Private (1976–2022) |
The Buyer: HollyFrontier
HollyFrontier Corporation (now HF Sinclair Corporation) is the entity that acquired the majority of Sinclair Oil Corporation's assets. This move consolidated various operations and expanded HollyFrontier's portfolio in the energy sector.
For more detailed information on its history and operations, you can refer to the Sinclair Oil Corporation Wikipedia page.
