Strata Carner sweetened its offer for Pauley.
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The Costa Mesa-based partnership offered $8 a share for all of Pauley Petroleum’s assets except its Newhall refinery, or $15 a share for Pauley’s assets including the refinery, provided Strata Carner Partners can easily resell it. Los Angeles-based Pauley, which previously rejected a $7-per-share offer, said its board would consider the new offer, which expires July 31.
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