Tesoro’s Refinery Deal May Hit Snag With States

Law360, New York (January 29, 2007, 12:00 AM EST) -- The $1.63 billion takeover of a California refinery by Tesoro Petroleum Corp., the third-largest refiner in the United States, may incite some Western states to challenge the move as anti-competitive.

Tesoro, based in San Antonio, Texas, said Monday it planned to purchase Royal Dutch Shell Plc’s refinery in the Los Angeles region, as well as 250 gas stations. The acquisition would turn Tesoro into the primary refiner on the West Coast.

Tesoro and Shell will form a relationship wherein both companies gain by withholding supply, according...
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