Icahn-Controlled Refiner CVR Seeks Shakeup at Rival Delek
- Proxy letter dismisses takeover rumor, asks for sale of units
- CVR says would like to work with Delek to replace 3 directors
Carl Icahn
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CVR Energy Inc., the oil refiner controlled by billionaire investor Carl Icahn, is calling for a shakeup at Delek US Holdings Inc. while dismissing speculation of a takeover.
CVR isn’t interested in a combination but wants the fuel producer to sell its retail business and cease operations at two refineries that lack competitive advantages and have no prospect of consistently generating cash, CVR Chief Executive Offer David L. Lamp said Thursday. He added that Delek should accept the replacement of three directors with CVR nominees at the next shareholders meeting.