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BRIEF-Valero Energy, Plains All American Pipeline plan to challenge attempt to block proposed acquisition by Valero of certain plains assets
July 12, 2017 / 9:56 PM / 5 months ago

BRIEF-Valero Energy, Plains All American Pipeline plan to challenge attempt to block proposed acquisition by Valero of certain plains assets

July 12 (Reuters) - Valero Energy Corp

* Valero Energy Corporation and plains All American Pipeline, L.P. plan to challenge attempt to block proposed acquisition by Valero of certain plains assets

* Valero Energy Corp - Court denied California Attorney General’s motion for a temporary restraining order seeking to block proposed transaction

* Valero Energy Corp - Valero plans to “meaningfully expand capacity at both Martinez and Richmond terminals”​

* Valero Energy Corp - Valero’s CEO Joe Gorder and Plains’s CEO Greg Armstrong are “disappointed” by California Attorney General’s action

* Valero Energy Corp - FTC recently ended extensive investigation of transaction, ultimately concluding that transaction merited no regulatory action

* Valero - ‍media report apparently based on filing by California Attorney General in U.S. District Court “mischaracterizing as a ”merger“” a proposed deal

* Valero - California AG is seeking to block​ ‍acquisition by a unit of co of 2 petroleum storage and distribution terminals located in Martinez, Richmond Source text for Eikon: Further company coverage:

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