Alon USA Energy, Inc.NYSE
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  • Mon, Oct. 17, 9:05 AM
    • Alon USA Energy (NYSE:ALJ) +12.4% premarket after confirming it received a buyout offer from Delek US Holdings (NYSE:DK) to acquire all ALJ's outstanding common shares at a fixed exchange ratio of 0.44 shares of DK stock for each outstanding share of ALJ.
    • ALJ's Special Committee, which says it has reviewed a number of strategic alternatives, intends to consider DK's proposal and determine how to respond.
    | Mon, Oct. 17, 9:05 AM | 11 Comments
  • Fri, Oct. 14, 8:47 AM
    • Delek U.S. Holdings (NYSE:DK) offers to buy the ~53% of Alon USA Energy (NYSE:ALJ) it does not already own, in a deal that values ALJ at $516M.
    • DK proposes to acquire the remaining ALJ shares in an all-stock transaction at a fixed exchange ratio of 0.44 DK shares for each outstanding ALJ share.
    • Based on DK's closing price of $16.42, the offer works out to $7.22/share, a 16% discount to ALJ's $8.60 closing price.
    • ALJ -1.2% premarket.
    | Fri, Oct. 14, 8:47 AM | 13 Comments
  • Wed, Sep. 14, 2:52 PM
    • Delek US Holdings (DK -1.8%) and Alon USA Energy (ALJ -0.1%) are initiated with Buy ratings, with respective $23.50 and $10 price targets, at Citigroup, which says a potential merger of the two companies seems increasingly likely and could unlock value.
    • DK already owns a 48% stake in ALJ and recently sold its retail assets to COPEC, raising sufficient funds to acquire the remaining 52% stake via cash, Citi says.
    • Besides the synergies in procurement of crude and marketing of products, the firm says the clearest synergy is $71M that ALJ outlined in EBITDA that could be dropped into DK’s MLP, a value that alone represents 100% of ALJ’s market cap.
    | Wed, Sep. 14, 2:52 PM | 3 Comments
  • Mar. 31, 2015, 12:19 PM
    • Delek US Holdings (DK -0.2%) discloses that it is in talks to buy some or all of Alon Israel Oil, one of Israel's largest fuel station and convenience store operators and the parent company of Alon USA Energy (ALJ +5.4%).
    • A deal could give DK a stake in refineries and convenience stores in the U.S. and Israel; ALJ's refineries in Texas, California and Louisiana have an aggregate crude oil throughput capacity of 217K bbl/day and operates nearly 300 7-Eleven convenience stores in central and west Texas and New Mexico.
    • Alon Israel had owned more than 50% of ALJ stock but now owns ~48% after giving up its majority stake through a share sale last month.
    | Mar. 31, 2015, 12:19 PM | 1 Comment