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Stock Market & Financial Investment News

News Breaks
July 3, 2013
14:37 EDTTLLPALPS Advisors reports 4.8% passive stake in Tesoro Logistics
News For TLLP From The Last 14 Days
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April 8, 2015
08:42 EDTTLLPTesoro price target raised to $99 from $90 at Cowen
Cowen raised its price target on Tesoro (TSO) to $99 from $90 as they do not see the potential growth of Tesoro Logistics (TLLP) fully reflected in its share price. The firm sees Tesoro shares as undervalued and reiterated its Outperform rating on the stock.
April 6, 2015
17:02 EDTTLLPTesoro Logistics to acquire remaining portion of QEP Midstream Partners
Tesoro Logistics (TLLP) and QEP Midstream Partners (QEPM) jointly announced the signing of a definitive merger agreement whereby TLLP will acquire QEPM in a unit-for-unit exchange. Under the terms of the merger agreement, QEPM public unitholders will receive 0.3088 TLLP common units for each QEPM Common Unit held. This consideration is valued at $17.09 per QEPM common unit based on today's TLLP closing price of $55.34 and represents an 8.5% premium to TLLP's original proposal of 0.2846 announced on December 2, 2014 and an 8.6% premium to QEPM closing price of $15.74. The transaction has been approved by the boards of directors at both companies as well as the Conflicts Committee of the board of QEP Midstream Partners GP. TLLP currently owns an approximate 55.8% limited partner interest in QEPM, consisting of 3.7M common units and 26.71M subordinated units, and 100% of the limited liability company interests of QEPM GP, which itself holds a 2% general partner interest and 100% of the incentive distribution rights in QEPM. The transaction is expected to close in 2015 and is subject to customary closing conditions, including approval by the QEPM unitholders.
17:01 EDTTLLPTesoro Logistics to acquire remaining portion of QEP Midstream Partners
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