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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
Interested in more information about Delek US Holdings? Add it to your watchlist by clicking here.
Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.
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