I got the feeling either there is gonna be some great value in splitting off the retail segment of Alon or we are going to get a takeover from Alon Israel, either way, I would not sell 1 share at these low prices!
It seems possible, even likely. I'm sure they're not thrilled that ALJ makes the threshold list regularly (in this market, with this SEC, if you could easily go private, why wouldn't you?).
Alluding to a post from another thread, they may be looking to spin-off the part they don't really want (retail) and taking private the good part (refining). In a report from last March, Caris and Company estimated the retail IPO would contribute a minimum $250MM and Alon Israel buying the remaining 10MM shares outstanding at say, $25 per share, would be ~$250MM. In the meantime, I wouldn't be surprised if they continue to gobble up shares until the end of the quarter. They probably see each purchase at least a double, they're just printing money every time they buy.
They've been buying it for a hell of alot less than $25 a share for months. You buy a share for $12 and assume $12 of debt too. The mothership is sitting in the catbirds seat on this one. I'm holding on to my piddly amount of shares for time being.