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Alon USA Energy, Inc. (NYSE:ALJ) Investor Investigation Over Potential Wrongdoing In Acquisition Announced

  • If you purchased shares of Alon USA Energy, Inc. (NYSE:ALJ) and currently hold any of those NYSE:ALJ shares, you have certain options and should you contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Alon USA Energy, Inc.
Security
NYSE: ALJ

Summary

January 10, 2017 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Alon USA Energy, Inc. (NYSE:ALJ), was announced concerning whether the takeover of Alon USA Energy, Inc. by Delek US Holdings, Inc for a value of $12.13 per share is unfair to NYSE:ALJ stockholders.

The investigation by a law firm concerns whether certain officers and directors of Alon USA Energy, Inc. breached their fiduciary duties owed to NYSE:ALJ investors in connection with the proposed acquisition.

On January 03, 2017, Delek US Holdings, Inc. (NYSE:DK) and Alon USA Energy, Inc. (NYSE:ALJ) announced an agreement under which Delek US will acquire all of the outstanding shares of Alon USA Energy, Inc. (NYSE:ALJ) common stock which Delek US does not already own in an all-stock transaction. Based on a closing price of $24.07 per share for Delek US common stock on Friday, December 30, 2016, the implied price for Alon USA Energy, Inc. (NYSE:ALJ) common stock is $12.13 per share, or $464 million in equity value for the remaining shares.

However, given that at least one analyst has set the high target price for NYSE: ALJ at $17.60 per share, the investigation concerns whether the offer is unfair to NYSE:ALJ stockholders.

In addition, given that Delek US currently already owns approximately 33.7 million shares of common stock of Alon and already entered into three separate voting agreements with Alon USA, David Wiessman and Jeff Morris, pursuant to which each of Delek US, Mr. Wiessman and Mr. Morris have agreed to, among other things, vote their shares of Alon in favor of this transaction, the investigation concerns whether the Alon USA Energy 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.

Shares of Alon USA Energy, Inc. (NYSE:ALJ) reached in August 2015 as high as $21.73 per share.

On January 10, 0217, NYSE:ALJ shares closed at $12.10 per share.

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