Refiner Delek To Buy Rest Of Alon USA in $868M Deal

Reuters

Jan 3 (Reuters) - Refiner Delek U.S. Holdings Inc said it had agreed to buy the shares of Alon USA Energy Inc it does not already own in a deal that values Alon USA at about $868 million.

Delek on Tuesday offered 0.504 of its shares for each outstanding share of Alon USA. The company, which holds about 47 percent of Alon USA, had offered 0.44 of its shares in October.

Based on Delek's closing price of $24.07, the offer works out to $12.13 per share, a 6.6 percent premium to Alon USA's Friday close.

(Reporting by Swetha Gopinath in Bengaluru; Editing by Maju Samuel)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Regional Sales Executive
Expertise: Business Development|Sales
Location: Jacksonville, FL
 
Land Representative - MCBU Midland Surface
Expertise: Landman
Location: Midland, TX
 
Land Analyst - MCBU Midland
Expertise: Landman
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $49.7/BBL 1.76%
Light Crude Oil : $47.12/BBL 1.55%
Natural Gas : $3.07/MMBtu 0.58%
Updated in last 24 hours