(Reuters) - Shares of U.S. petroleum refiner HollyFrontier Corp rose sharply and trading volume surged on Friday on a market rumor of renewed takeover interest by larger rival Tesoro Corp, market sources said.
HollyFrontier shares were last up 4.4 percent at $50.42. The stock had been up less than 0.5 percent until late morning when it rose suddenly on a surge in volume. Traders attributed the sudden move to the rumor.
Tesoro was up 1.7 percent at $102.13.
Reuters has not been able to verify the accuracy of the rumor.
Acquisition talks earlier this year failed when HollyFrontier’s board balked at the terms, Reuters reported in July.
Reporting by Jessica Resnick-Ault; Writing by Dan Burns, Editing by Franklin Paul