secwatch.observer — SEC 8-K summary
======================================

Issuer:     PBF Energy Inc. (PBF)
CIK:        0001534504
Form:       8-K
Filed at:   2022-07-28T23:59:59+00:00
Accession:  0001193125-22-204095
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PBF Energy to acquire PBF Logistics for 0.270 shares + $9.25 cash per unit (13.2% premium)
--------------------------------------------------------------------------------

- Each public PBFX unit converts to 0.270 PBF Energy shares + $9.25 cash; $5M termination fee if PBFX changes recommendation.
- PBF Energy already owns 47.7% of PBFX; deal values remaining 52.3% at ~$350M based on terms.
- Premium of 13.2% to PBFX 30-day VWAP through July 27, 2022; expected close by March 31, 2023.
- Transaction unanimously approved by PBFX Conflicts Committee, GP Board, and PBF Energy Board.
- PBF Logistics to become wholly owned subsidiary; units will be delisted from NYSE after closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1534504/000119312522204095/0001193125-22-204095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1534504/000119312522204095/d350886d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-204095

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer