Wall Street takeover mogul eyes on cash-rich and well-located CVR

摘要

A well-known green-mailer in the 1980's, billionaire investor Carl Icahn, who is the US independent refiner's largest shareholder with a 14.5% stake, has announced on Feb. 15his intent to start an unsolicited tender offer for the rest of CVR's share at $30/share for a total of $2.6B. The offer was 34% above the closing price on the same day. CVR owns two midwestern refineries at CoffeyviUe, KS and Wynnewood, OK for a combined refinery capacity of 185K b/d as well as a fertilizer business through its majority interest in CVR Partners LP. Icahn is willing to give shareholders who accept his tender an extra $7 a share if another suitor emerges.