Tesoro Corporation and Western Refining, Inc. jointly announced a definitive agreement under which Tesoro will acquire Western at an implied current price of $4.1 billion.
This transaction has been unanimously approved by the boards of directors of both companies, and is another transformative step forward for Tesoro and the Company's ongoing commitment to creating significant value for shareholders, employees, communities and other key partners.
Amongst many other aspects of the acquisition, incorporating a variety of shared industry interests, a strong, combined Multi-brand Marketing and Convenience Store Portfolio in growing geographies will now bring together 12 premium and leading value retail and convenience store brands to better serve a broad customer base and regional preferences, and provides improved ratable supply from the entire refining system.
The combined retail operations will comprise over 3,000 branded retail stations operating under a variety of brands including ARCO®, Shell®, Exxon®, Mobil®, SuperAmerica®, Giant and Tesoro®.
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