Tesoro re-files with DOJ, FTC for $6.4B acquisition
January 17, 2017
Energy Refining | El Paso, TX | Corporate Acquisition
Tesoro (NYSE: TSO) has re-submitted its Hart-Scott-Rodino Act notification with the US Federal Trade Commission and Department of Justice in connection with the company's proposed acquisition of Western Refining (NYSE: WNR). The waiting period for review of the deal was originally scheduled to expire January 9 but will now end February 10, unless the DOJ or FTC grants early termination. Under the agreed-upon deal, announced November 17, Tesoro would acquire Western for $37.30 per share in a stock transaction. Both companies ended the week trading down, with Tesoro closing at $79.61 a share and Western Refining at $34.35.