Reuters logo
Refiner Delek to buy rest of Alon USA in $868 mln deal
January 3, 2017 / 12:58 PM / a year ago

Refiner Delek to buy rest of Alon USA in $868 mln deal

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)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below