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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Alon Usa Energy Common Stick | NYSE:ALJ | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 13.32 | 0.00 | 01:00:00 |
From May 2019 to May 2024
SAN DIEGO, Jan. 5, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Alon USA Energy, Inc. (NYSE: ALJ) breached their fiduciary duties in connection with the proposed sale of the Company to Delek US Holdings, Inc. Alon refines and markets petroleum products, primarily in the South Central, Southwestern and Western regions of the United States.
On January 3, 2017, Alon announced it had signed a definitive merger agreement with Delek. Under terms of the agreement, the owners of the remaining outstanding shares in Alon that Delek does not currently own will receive a fixed exchange ratio of 0.5040 Delek shares, for each share of Alon. Based on Delek's closing price of $24.07 per share on Friday, December 30, 2016, the implied price for Alon common stock is $12.13 per share.
The investigation concerns whether the Alon board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Alon shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration.
If you are a shareholder of Alon and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/alon-alj-alert-johnson--weaver-llp-launches-an-investigation-into-the-fairness-of-price-and-process-in-proposed-sale-of-alon-usa-energy-inc-are-minority-shareholders-getting-a-fair-price-300386737.html
SOURCE Johnson & Weaver, LLP
Copyright 2017 PR Newswire
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