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8-K
DELEK US HOLDINGS, INC. filed this Form 8-K on 11/27/2017
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Should simplify corporate structure of Delek US Acquisition of the remaining Alon USA Partners LP Units 10 1) Please see page 31 for additional information related to this transaction. • On November 8, 2017, Delek announced definitive agreement to acquire remaining limited partner units of Alon USA Partners (ALDW) • Delek US currently owns 81.6% of the outstanding common units • All stock for unit transaction for remaining 18.4% of the outstanding common units • Exchange ratio of 0.49 shares of Delek US for each ALDW common unit not already owned by Delek US • Expected benefits • Simplified corporate structure • Ability to reallocate cash flow from distributions to investment • Enables ability to more efficiently drop down logistic assets to DKL in the future • Ability to use the balance sheet strength of Delek US to refinance high cost debt at ALDW • Reduces number of public companies to 2 (DK and DKL) lowering public company costs • Timing/Approvals • Transaction expected to close in the first quarter 2018 • Subject to customary closing conditions • Delek US owns and has committed to vote a sufficient number of ALDW common units to approve the merger


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