SAN DIEGO, Dec. 6, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Alon USA Partners, LP ("Alon Partners") (NYSE: ALDW) breached their fiduciary duties in connection with the proposed sale of the Company to Delek US Holdings, Inc. (NYSE:DK) ("Delek US"). Alon Partners refines and markets petroleum products in the United States.
On November 8, 2017, Alon Partners announced that it had signed a definitive merger agreement with Delek US. Under the terms, 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. 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.
The investigation concerns whether the Alon Partners board failed to satisfy its duties to the owners of the outstanding common units, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Alon Partners shares of common units. Nationally recognized Johnson Fistel is investigating whether the proposed deal price represents adequate consideration.
If you are an owner of common units of Alon Partners and believe the proposed buyout price is too low, or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, 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.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
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SOURCE Johnson Fistel, LLP