CVR Energy's Board of Directors Unanimously Urges Stockholders to Reject Carl Icahn's Hostile Tender Offer
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 its Board of Directors, in consultation with its independent financial and legal advisors, has unanimously determined that the unsolicited tender offer by entities controlled by Carl Icahn, to acquire all of the outstanding shares of CVR Energy for $30.00 per share in cash (subject to downward adjustment), plus a "contingent cash payment right," is inadequate and not in the best interests of its stockholders.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.