Tracinda tender for Tesoro begins

By Lisa Kerner

Charlotte, N.C., Nov. 7 - Tracinda Corp. began its $64-per-share cash tender offer for up to 21,875,000 shares, or 16%, of the outstanding shares of Tesoro Corp.

The offer is slated to end at 11:59 p.m. ET on Dec. 6, according to a company news release.

If the full amount of shares is purchased in the offer, Tracinda's sole shareholder Kirk Kerkorian would beneficially own 27,375,000 shares, or some 20%, of the San Antonio-based petroleum refiner.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.