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BRIEF-Delek US Holdings to buy rest of Alon USA
October 14, 2016 / 12:13 PM / a year ago

BRIEF-Delek US Holdings to buy rest of Alon USA

Oct 14 (Reuters) - Delek US Holdings Inc :

* Delek US Holdings-on october 14, delivered non-binding letter to special committee of board of alon usa proposing potential business transaction - sec filing

* Delek US Holdings - proposes a business combination of Delek and Alon Usa Energy

* Delek US Holdings - board of directors has authorized management to engage in negotiations and the making of this proposal

* Delek US -propose to buy each outstanding share of Alon which Delek does not already own at fixed exchange ratio of 0.44 Delek shares for each outstanding Alon share

* Delek US Holdings-as described in letter, Delek will not move forward with proposed transaction unless approved by special committee of board of alon usa

* Delek US Holdings - given the all-stock nature of the transaction, proposal would not be subject to any financing contingency

* Delek US Holdings - reports 47.2 percent stake in alon usa energy inc as of October 14

* Delek US Holdings - has Engaged Tudor, Pickering, Holt & Co. And Norton Rose Fulbright Us Llp as financial and legal advisors Source text ( Further company coverage:

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