Here is a link to an article on taxes and gold. It doesn't fit perfectly with our current situation, but I found it interesting.

http://www.edmontonjournal.com/business/fp/forget+rules+during+gold+rush/3418499/story.html

Does anyone know how it would play out for shareholders if/when Tesoro sells?

Would shareholders receive a handsome dividend which would follow tax rules for dividends? Or would a person enjoy taxable income only when selling shares at a much higher price and be taxed on the capital gain? Are there other possibilities?