";s:4:"text";s:3132:"San Antonio oil refiner Tesoro Corp., will have 10 oil refineries, 13,000 employees after sale completed in 2017 Western Refining’s retail operations included nearly 550 gas stations and c-stores under the Giant, Howdy’s and SuperAmerica brands. This past quarter was the culmination of that work, as the company completed the acquisition of Andeavor -- formerly Tesoro, Western Refining, and Northern Tier Refining. The best bit on Thursday's one to announce Tesoro Inc.'s acquisition of Western Refining Inc. was when an analyst asked management to "put meat … Tesoro Corporation (TSO) and Western Refining, Inc. (WNR) investors have approved their $6.4 billion merger and acquisition deal. Western Refining sold in $6.4B deal. Tesoro will close on its $6.4 billion acquisition of Western Refining by market close Thursday. … As previously disclosed, on November 16, 2016, Western Refining, Tesoro, Tahoe Merger Sub 1, Inc. and Tahoe Merger Sub 2, LLC, entered into an Agreement and Plan of … Foster founded Western Refining and last year sold it to Andeavor (formerly called Tesoro) for $6.4 billion. Tesoro's retail-marketing system includes more than 2,400 gas stations under the Arco, Shell, Exxon, Mobil, USA Gasoline, Rebel and Tesoro brands.
Western Refining (WNR) has been publicly traded on the New York Stock Exchange since January 2006 and is the fourth largest publicly traded independent refiner and marketer in the nation. The offer is a 22.3 percent premium to Western Refining's Wednesday close. Tesoro closed on its acquisition in mid-November 2016 of Western Refining Inc. in a stock transaction valued at $4.1 billion. Western Refining has been acquired by Tesoro another independent petroleum Refining and marketing corporation. In Nov 2016, Tesoro first announced its plans to acquire Western Refining. Tesoro Corporation announced today that it will acquire Western Refining at an implied current price of $6.4 billion, including the assumption of approximately $1.7 billion of Western’s net debt and the $605 million market value of non-controlling interest in Western Refining Logistics, LP. Western Refining shareholders are to receive 0.435 shares of Tesoro for each WNR share, an implied price of $37.30 per share and a 22% premium. Tesoro Corporation and Western Refining, Inc. today jointly announced a definitive agreement under which Tesoro will acquire Western at an implied current price of $37.30 per Western share in a stock transaction, representing an equity value of $4.1 billion based on Tesoro's closing stock price of $85.74 on November 16, 2016. Tesoro , an independent American refining company, has agreed to acquire Western Refining , marking a significant leap in its inorganic growth path.