An investigation on behalf of investors of Alon USA Partners LP (NYSE:ALDW) in connection with the proposed takeover was announced and NYSE:ALDW stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/12/2017 -- The acquisition of Alon USA Partners LP is under investigation over possible wrongdoing. The investigation was announced for investors, who currently hold shares of Alon USA Partners LP (NYSE:ALDW), concerning whether the takeover of Alon USA Partners LP. by Delek US Holdings, Inc for a value of approximately %13.92 per NYSE:ALDQ share is unfair.
Investors, who purchased shares of Alon USA Partners LP (NYSE:ALDW), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Alon USA Partners LP breached their fiduciary duties owed to NYSE:ALDW investors in connection with the proposed acquisition.
On November 08, 2017, Delek US Holdings, Inc. (NYSE:DK) and Alon USA Partners, LP (NYSE:ALDW) announced the execution of a merger agreement under which Delek US will acquire all of the outstanding Alon Partners common units representing limited partner interests which Delek US or its affiliates do not already own, in an all-stock for common units merger transaction. Under terms of the merger agreement, the owners of the outstanding common units in Alon Partners that Delek US and its affiliates do not currently own will receive a fixed exchange ratio of 0.49 Delek US shares for each common unit of Alon Partners. Base on a closeing price of $28.40 per NYSE: DK share on November 7, 2017, investors in NYSE:ALDW will receive a value of approximately $13.92 per NYSE:ALDW shares.
However, given that Delek US Holdings, Inc. and its affiliates currently own approximately 51.0 million common units of Alon Partners, or approximately 81.6 percent of the outstanding units, the investigation concerns whether the offer is unfair to NYSE:ALDW stockholders. Furthermore, given that at least one analyst has set the high target price for NYSE:ALDW shares at $15.95 per share, the investigation concerns whether the Alon USA Partners Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On December 11, 2017, NYSE:ALDW shares closed at $15.95 per share.
Those who are current investors in Alon USA Partners LP (NYSE:ALDW) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego