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And here's Sestak's response

From NBC's Mark Murray
And right on cue, Sestak just issued a statement confirming what the White House had released.

Last summer, I received a phone call from President Clinton. During the course of the conversation, he expressed concern over my prospects if I were to enter the Democratic primary for U.S. Senate and the value of having me stay in the House of Representatives because of my military background. He said that White House Chief of Staff Rahm Emanuel had spoken with him about my being on a Presidential Board while remaining in the House of Representatives. I said no. I told President Clinton that my only consideration in getting into the Senate race or not was whether it was the right thing to do for Pennsylvania working families and not any offer. The former President said he knew I'd say that, and the conversation moved on to other subjects.

There are many important challenges facing Pennsylvania and the rest of the country. I intend to remain focused on those issues and continue my fight on behalf of working families.