Icahn Enterprises Successfully Concludes Tender Offer for CVR Energy Shares

Icahn Enterprises Concludes Tender Offer for CVR Energy Shares

Icahn Enterprises L.P. (NASDAQ: IEP) along with Icahn Enterprises Holdings L.P. (IEH) has recently announced the results of its cash tender offer for up to 17,753,322 shares of common stock from CVR Energy, Inc. (NYSE: CVI). The offer was made at a price of $18.25 per share, which expired on January 8, 2025, at 5:00 PM New York City time.

According to Broadridge Corporate Issuer Solutions, the designated depositary and paying agent for the tender offer, a total of approximately 878,212 shares were properly tendered without being withdrawn. This means that the shares accepted for payment by IEH constitute about 0.9% of the total outstanding shares of CVR Energy, which equates to an overall purchase price of roughly $16 million.

Once the transaction is completed, the depositary will initiate payments for the accepted shares promptly, facilitating a smooth process for both the issuer and shareholders.

About CVR Energy

CVR Energy, based in Sugar Land, Texas, is a diversified holding company engaged primarily in the renewables, petroleum refining, and marketing business, as well as in the production of nitrogen fertilizer through its interest in CVR Partners, LP. CVR Energy's subsidiaries hold a general partner role and own approximately 37% of the common units of CVR Partners, LP.

Icahn Enterprises Background

Icahn Enterprises L.P. operates as a master limited partnership and is backed by a range of subsidiaries involved in various sectors like investment, energy, automotive, food packaging, real estate, home fashion, and pharmaceuticals. A significant portion of its ownership, 99% limited partner interest, in Icahn Enterprises Holdings L.P. aids Carl C. Icahn in maintaining control over both entities.

Forward-Looking Statements

The announcement also included cautionary notes addressing forward-looking statements as defined by federal securities laws. These statements encapsulate predictions concerning future business operations and financial statuses, highlighting potential risks and uncertainties regarding their expectations. Factors such as transaction-related uncertainties, market conditions influenced by geopolitical events, and adverse developments in the business sectors they operate can all dynamically affect outcomes, which could materially deviate from expectations provided in their disclosures.

For any inquiries regarding this tender offer, D.F. King & Co., Inc. serves as the information agent and can be contacted at (866) 207-3626 or through email. However, it is important to note that this press release does not serve as an offer to purchase or solicit any sales of securities but is strictly for informational purposes.

Conclusion

The conclusion of this tender offer reflects Icahn Enterprises' involvement in not only shareholder engagement but also showcases their strategic long-term investment commitment in the energy sector. As both IEP and IEH navigate the evolving marketplace, investors and stakeholders alike will be keenly observing their upcoming ventures and operational strategies.