Moody's Affirms Ratings on Tesoro Petroleum (TSO); Outlook Remains Positive
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TESORO TO ACQUIRE WESTERN REFINING IN $6.4 BILLION TRANSACTION
November 17, 2016 6:01 AM EST·       Transaction creates a premier, highly integrated and geographically diversified refining, marketing and logistics company
·       Stock transaction at exchange ratio of 0.4350, with option to elect cash in lieu of stock up to a cap of 10% of the equity consideration; values the transaction at $6.4 billion
·       Commit to delivering $350 to $425 million in annual synergies; run rate to be achieved within the first two years
·       Expects to achieve 10% to 13% EPS accretion in 2018, the first full year of combined operations
·       Well positioned, highly reliable and advantaged refining system with over 1.1 million... More
