Alon has yet to reach a decision regarding the possible merger with Delek US Holdings Inc.
Alon USA Energy Inc.’s Board of Directors recently formed a Special Committee to review strategic alternatives for the company’s future.
Since its formation, the Special Committee, which is comprised of members who have no affiliation with Delek US Holdings Inc., has considered a number of strategic alternatives, a potential business combination with Delek, the analysis of capital investments, shareholder distributions, a sale or merger and a spin-off or separation of a selected business.
The Special Committee has set no timetable for the strategic review process and has not made a decision to pursue any particular transaction, and there can be no assurance that any transaction will be approved or consummated. Alon does not intend to disclose or comment on further developments regarding the review of strategic alternatives until it determines that such disclosure or comment is appropriate or necessary.
The Special Committee has retained J.P. Morgan as its financial advisor and Gibson Dunn as its legal advisor to assist in the assessment of strategic alternatives.