RE:RE:RE:I still think an offer is going to happen sooner than later.
they paid that so they have 2 seats on the bod. a lot of conglomerates work like this. now they can see the inner workings of iae and all their past screw ups. they are in a position to do what brookfield does to small companies in financial difficulties, take a position and if the company does well then great, and it doesn't even better, they takeover some debt and get the company for pennies on the dollar, shareholders get 0. happens all the time and will happen here if oil prices don't recover enough.
delek would never have put a penny into iae if they didn't get those 2 board seats. i bet they are talking to the banks behind iae's back and have a plan if things get worse. the banks now have an option to get paid if iae eventual breaks covenants again. i don't think the banks will play ball with iae next time, jmho. i'm not saying this will happen 100% but it is a very strong possibility. delek isn't necessarily the savior u think it is.
cheers ferret