They love us, they love us not, they love us... <hee hee> <cf_Corporate soap opera>
NEW YORK, May 3 (Reuters) - Independent oil refiner and marketer Tesoro Petroleum Corp. (NYSE:TSO - news) said Friday it plans to complete its $1 billion purchase of Valero Energy Corp.'s (NYSE:VLO - news) Golden Eagle refinery in California, despite concerns that liquidity problems would halt the deal. "Tesoro is still planning on closing the Golden Eagle acquisition after we have all necessary approvals. We intend to close the acquisition on a basis that will insure adequate liquidity following the closing, even in a below-average margin environment," according to a statement released by Tesoro Friday morning. The reconfirmation of Tesoro's intention to buy the 168,000 barrel per day (bpd) plant near San Francisco comes after Tesoro Chief Executive Bruce Smith cast doubts during a conference call Wednesday, saying Tesoro "will not close the Golden Eagle asset if we're not confident we have adequate liquidity." </cf_Corporate soap opera> Stay tuned for the next exciting episode... Maybe they will actually set the wedding date this time!! -Ben ______________________________________________________________________ Signup for the Fusion Authority news alert and keep up with the latest news in ColdFusion and related topics. http://www.fusionauthority.com/signup.cfm Archives: http://www.mail-archive.com/[email protected]/ Unsubscribe: http://www.houseoffusion.com/index.cfm?sidebar=lists
