Alon USA Partners, LP (ALDW)

[jugs]

Just announced that Delek Holdings and Alon USA have agreed upon a merge of operations. Delek will bew acquiring the balance of shares not previously controlled.

There's an assumption of debt involving ALDW but I don't have particulars. Obviously I'm concerned. However, the deal includes a premium (to be paid) in the amount of about 7.3% as I recall.

My primary concern is that ALDW NOT be swallowed up unceremoniously as happened when Western Refining ate NTI's lunch. Given that there's a premium, I'm OK for the moment. Should energy as a sector fail to hold its own, I'll have no option but to reduce my position.

Let's all keep our ears and brains to the grindstone.