Convenience Store News

NOV 2016

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INDUSTRY ROUNDUP Delek Makes Move for All of Alon USA Proposed deal seeks remaining 52 percent of North America's largest 7-Eleven licensee A lthough it had been rumored for a while, Delek US Holdings Inc. formally proposed in mid- October to acquire the remaining portion of Alon USA Energy Inc. it does not already own. Delek currently owns 48 percent of Alon. During an August 2015 earnings call, Delek Chairman and CEO Uzi Yemin said his company is "not in the business" of owning only 48 percent of any publicly traded company. Delek's proposed all-stock transaction would see Alon stockholders receive 0.44 of a share in Delek for each share of Alon owned. "We believe both companies are currently underval- ued to differing extents by the market, and our proposal reflects — in the context of the current and prospective challenges facing Delek's and Alon's sector — our view of the relative fundamental values of Alon and Delek; each company's respective outlook and balance sheet profile; and potential synergies for the transaction," Yemin wrote in an Oct. 14 letter that was disclosed in an U.S. Securities and Exchange filing. "We believe this combination would create signifi- cant value for the respective stockholders of Delek and Alon in both the near- and long-term, and the 100-per- cent equity consideration would allow Alon stockhold- ers — many of whom are also currently Delek stock- holders — the opportunity to fully participate in that value creation as it is realized," he continued. The merger will likely require shareholder approval from both companies. Turn your data into actionable information with ADD eStore ® and Atlas Reporting ® . ADD Systems ® offers the best back office software solution, with Business Intelligence tools for tracking, analyzing and managing sales, purchases, inventory and more to help you maximize your profitability. ADD Critical Insight Into Your Store Data To ADD more to your Convenience Store business, contact us at 800.922.0972 www.addsys.com 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101 1010101010101010101010101010101010101

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