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What: Shares of Delek US Holdings
So what: The news comes on the heels of a report in the industry trade publication Offshore that Israeli parent company Delek Group is negotiating to acquire a majority stake in diversified real estate firm Cohen Development.
Now what: If there are synergies that offer a rationale for the deal, it's not obvious from Offshore's reporting, nor from the company's records in S&P Capital IQ. Yet synergy may not be the point. Delek Group has a diverse array of holdings, including stakes in El Al Airlines and Tower Semiconductor
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