SAN ANTONIO (AP) — Tesoro (tuh-SOR'-oh) Corp. plans to acquire Western Refining Inc. in a $6.4 billion deal involving refineries, gas stations and convenience stores.
The agreement was announced Thursday by San Antonio-based Tesoro and Western Refining, which has its headquarters in El Paso.
Tesoro operates seven refineries in the western U.S. and more than 2,400 retail service stations.
Western Refining operates refineries in El Paso, New Mexico and Minnesota, plus service stations and convenience stores in Arizona, Colorado, Minnesota, New Mexico, Texas and Wisconsin.
The boards of both companies have approved the deal. The CEO and chairman of Tesoro, Greg Goff, will lead the combined company.