CVR Energy Advises Shareholders to Take No Action Regarding Unsolicited Takeover Offer from Carl Icahn Pending Board Review
CVR Energy, Inc. (NYSE: CVI), a refiner and marketer of petroleum fuels and a majority owner of CVR Partners, LP (NYSE: UAN), a nitrogen fertilizer producer, announced today that Icahn Partners LP, an entity controlled by Carl Icahn, has formally commenced an unsolicited tender offer to acquire all of the outstanding shares of CVR Energy for $30.00 per share in cash, plus a non-transferable contingent cash payment right. Mr. Icahn had previously announced, on February 16, 2012, that he intended to make such an offer.
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