The offer expiry news release tells us that Delek intend to increase and decrease their holdings in Ithaca as they see fit! It implies that they intend to keep the company public and sell or buy as the price changes.
I take what they say with a pinch of salt but perhaps the best result is to have held given that Stella is coming online...
"The Offer was completed as part of Delek's strategy to expand its international energy operations. The Offeror
and its affiliates intend to continue to assess, from time to time, the Offerors holdings in Ithaca, and insofar as it
deems it appropriate, based on market conditions and other circumstances and it is permissible in law, the
Offeror will consider further increasing or decreasing its holdings in Ithaca. In accordance with the terms of the
support agreement between Ithaca and Delek dated February 6, 2017, the Offeror may at any time, and from time
to time, designate such number of members of the Ithaca board of directors, and any committees thereof, as is
proportionate to the percentage of the outstanding Common Shares beneficially owned at such time by Delek or
an affiliate or subsidiary of Delek."
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