(KWES) - Delek US Holdings has struck a deal with Alon USA to acquire the remaining common stock from them.
The announcement was made on Tuesday.
Before the deal was announced, Delek US owned approximately 33.7 million common stock shares of Alon USA.
Upon closing, the combined company will be primarily led by Delek US' management team.
Uzi Yemin, Chairman, President and Chief Executive Officer of Delek US said, "We are excited to reach this agreement and believe this strategic combination will result in a larger, more diverse company that is well positioned to take advantage of opportunities in the market and better navigate the cyclical nature of our business."
We spoke with Alon USA and they said there's no word if there are any changes on the way to the Alon Refinery in Big Spring.