On or around 07/05/2017 (Stipulation and order of dismissal (voluntary dismissal))
Filing Date: June 02, 2017
According to a law firm press release, on January 3, 2017, Alon USA and Delek jointly announced that it had reached a definitive Agreement and Plan of Merger (“Merger Agreement”) where Delek will acquire the remaining fifty-three percent of Alon’s outstanding common stock not already owned by Delek, constituting an implied enterprise value of $675 million. Alon stockholders will receive 0.504 Delek shares, representing an implied value of $12.13 per share (the “Merger Consideration”).
The Complaint alleges that the Merger Consideration and the process by which Defendants agreed to consummate the Proposed Merger are fundamentally unfair to Alon USA’s public shareholders in view of the Company’s recent financial success and prospects for future growth.
This case was voluntarily dismissed as moot on July 5, 2017.
Company & Securities Information
Defendant: Alon USA Energy Inc.
Industry: Oil & Gas Operations
Headquarters: United States
Ticker Symbol: ALJ
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Stephen Page, et al. v. Alon USA Energy Inc., et al.