Deals
Carl Icahn Wins CVR Energy After $2.6 Billion Offer
This article is for subscribers only.
Billionaire Carl Icahn won the right to buy oil refiner CVR Energy Inc. after a majority of shareholders agreed to sell their stakes to him in an offer that values the company at $2.6 billion.
About 48 million shares were tendered in response to Icahn’s $30-a-share offer, giving him about 69 percent of the stock, according to a statement today. Holders of the remaining stock have until May 19 to take the same offer, which includes the right to an additional payment if Icahn can re-sell the Sugar Land, Texas-based company.