Tesoro suggests seat for Tracinda
From Times Wire Services
Tesoro Corp., a U.S. refiner targeted in a $1.4-billion tender offer by Kirk Kerkorian’s Tracinda Corp., suggested giving a Tracinda representative a seat on its board.
Tesoro Chief Executive Bruce Smith, during a Nov. 13 meeting with Tracinda executives in Beverly Hills, said it might be “a good idea” for the investment firm to have a board seat, according to a public filing by Tracinda. San Antonio-based Tesoro also suggested entering into a shareholder agreement with the firm.
