Exclusive: Sinclair Oil weighs offers for company sale: sources

NEW YORK - Sinclair Oil Corp, which operates two Wyoming refineries and has licensed more than 1,000 branded gasoline stations, is reviewing offers to buy the company, according to three people familiar with the matter.

A Sinclair sale could fetch between $2 billion and $3 billion, according to the sources, speaking on condition of anonymity as the talks are private. The company, headquartered in Salt Lake City, Utah, will review initial incoming offers and will determine whether serious talks are merited, two of the sources said. A determination on the viability of the offers is expected within the month. It has retained boutique firm Tudor, Pickering, Holt & Co as an advisor; neither it or Sinclair would comment for this story.

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