Getty Petroleum to Buy Clark Oil for $447 Million

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NEW YORK (AP) - A tentative agreement has been reached for Getty Petroleum Corp. to acquire virtually all of Clark Oil & Refining Corp. and other assets and liabilities from its parent, Apex Holding Co., in a deal worth $447 million, it was announced Wednesday.

Getty, a large independent marketer of gasoline and petroleum products based in Plainview, N.Y., said it would pay a $300 million base price, plus the value of Clark Oil's inventories - estimated at about $100 million - and that it would also assume an estimated $47 million in liabilities.

In return, Getty will be able to expand its horizon beyond the Northeast, acquiring two Illinois refineries, 14 …