Company: DK
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001694426-25-000013
Chunk: 136

Company: Delek US Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1A
Chunk 136
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 existing businesses. In the past we have acquired refineries, and we have developed our logistics segment through the acquisition of transportation, marketing and water assets. We expect to continue to acquire assets that complement our existing assets and/or broaden our geographic presence as a major element of our growth strategy. However, the occurrence of any of the following factors could adversely affect our growth strategy:

•We may not be able to identify suitable acquisition candidates or acquire additional assets on favorable terms;

•We usually compete with others to acquire assets, which competition may increase, and any level of competition could result in decreased availability or increased prices for acquisition candidates;

•We may experience difficulty in anticipating the timing and availability of acquisition candidates;

•We may not be able to obtain the necessary financing, on favorable terms or at all, to finance any of our potential acquisitions; and

•As a public company, we are subject to reporting obligations, internal controls and other accounting requirements with respect to any business we acquire, which may prevent or negatively affect the valuation of some acquisitions we might otherwise deem favorable or increase our acquisition costs. 

Acquisitions involve risks that could cause our actual growth or operating results to differ adversely compared with our expectations.

Due to our emphasis on growth through acquisitions, we are particularly susceptible to transactional risks that could cause our actual growth or operating results to differ adversely compared with our expectations.  For example:

•during the acquisition process, we may fail, or be unable, to discover some of the liabilities of companies or businesses that we acquire;

•we may assume contracts or other obligations in connection with particular acquisitions on terms that are less favorable or desirable than the terms that we would expect to obtain if we negotiated the contracts or other obligations directly;

•we may fail to successfully integrate or manage acquired assets;

•acquired assets may not perform as we expect, or we may not be able to obtain the cost savings and financial improvements we anticipate;

•acquisitions may require us to incur additional debt or issue additional equity;

•acquired assets may suffer a diminishment in fair value as a result of which we may need to record a write-down or impairment;

•we may fail to grow our existing systems, financial controls, information systems, management resources and human resources in a manner that effectively supports our growth;

•to the extent that we acquire assets in new lines of business, we may become subject to additional regulatory requirements and additional risks that are characteristic or typical of these lines of business; and

•to the extent that we acquire equity interests in entities that control assets (