June 21, 2017 (Shareholders Foundation) - An investor, who currently holds 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.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:ALJ stockholders by agreeing to sell Alon USA Energy, Inc. cheaply via an unfair process to Delek US Holdings, Inc.

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, plaintiff claims that the proposed consideration NYSE:ALJ shareholders will receive is grossly inadequate and undervalues Alon USA Energy, Inc. Indeed, at least one analyst has set the high target price for NYSE: ALJ at $17.60 per share. Shares of Alon USA Energy, Inc. (NYSE:ALJ) reached in August 2015 as high as $21.73 per share.
In addition, the plaintiff alleges that the process is also unfair NYSE: ALJ stockholders. Indeed, 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.