Takeout sooner than later? If Delek is indeed eventually going to buy iae, I believe it only makes sense if they do it sooner than later.
It's naive to think that they would buy 20% of iae at $1.05, help iae create value over the next 8 months, and then turn around and buy the remaining 80% at say $3-4.
Suitors don't jack up the price of assets they are trying to buy.
So, if they are thinking of buying iae, it would make sense if it were soon while iae is trading crazy low. Heck, they could probably get the whole company for $2.50 right now, and I'm talking about a friendly takeover. I'm not sure I would turn down a $2.5 offer 2 months from now.
If a buyout doesn't happen soon, then I believe it indicates that Delek is an investor who wants to quadruple their money.