We took the company private, improved the business, and three years later sold it to Tosco, an oil company, earning our investors a more than quadrupled return on their money.

我们将公司私有化后，改善它的经营，三年后把它卖给了“石油公司”特易购，使我们的股东获得了四倍的回报。

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Phillips was to pay Tosco investors 0.8 Phillips shares for every Tosco share they tendered.

FORBES: M&A for the Little Guy

Example: Gasoline refiner Tosco agreed in February to be acquired by Phillips Petroleum.

FORBES: M&A for the Little Guy

Seven months later, when the arrangement passed regulatory muster and closed, the fund covered its short sale with the Phillips shares it received on exchanging the Tosco stake.

FORBES: M&A for the Little Guy