Tesoro To Shed Assets To Close $355M Chevron Pipeline Buy

Law360, New York (June 18, 2013, 5:57 PM EDT) -- The Federal Trade Commission said Monday it would allow Tesoro Corp. to move forward with its $355 million purchase of certain Chevron Pipe Line Co. assets after Tesoro agreed to sell a petroleum terminal in Boise, Idaho, to allay the regulator's antitrust worries.

Texas-based oil refiner Tesoro reached a proposed consent agreement with the FTC that resolves the antitrust authority's concerns that Tesoro's acquisition of pipeline and terminal assets from Chevron would harm competition, particularly in Boise, where the deal would have given Tesoro control over...
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