Tesoro Terminates Stockholder Rights Plan
March 7, 2008
Saw this story at Yahoo Finance today. Tesoro Corporation Terminates Rights Plan
Last year Tracinda offered $64 per share for Tesoro. Then Tesoro implemented this plan to dissuade a takeover. Now that the stock is floundering around the low $30’s, they must be hoping that Tracinda or someone else will be templated to pick up a bargain. I’m doubting they will get the $64 price in this environment.
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