M&A Update: Tesoro share price down into Tracinda tender expiring Dec. 6
Posted by: admin in ManagementFiled under: Deals, Management, Rumors, Engagements, Investments
Tesoro(NASDAQ:TSO) share price down into Tracinda $64 cash tender expiring Dec. 6. TSO is recently down 82c to $55.03. Tracinda announced on October 26 the intention to make cash tender for up to 21,875,000 shares of TSO for $64 per share. TSO, an independent refiner and marketer of petroleum products, has a market cap of $7.6 billion. Crude oil futures are up 0.21% to $98.39 according to Bloomberg. TSO is expected to host an analyst meeting on December 5. TSO over all option implied volatility of 44 is near its 26-week average of according to Track Data, suggesting non-directional price fluctuations.
Royal Philips Holdings (NYSE:PHG) say’s it has concurred to pay $2.7 billion for Genlyte (NASDAQ:GLYT).
Daily M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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