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CVR Energy ( (CVI) ) has shared an announcement.
CVR Energy has entered into a Tender Offer Agreement with Icahn Enterprises to purchase a significant portion of its shares, while the board remains neutral on the offer. The company is also enhancing its financial position through a $325 million Senior Secured Term Loan B facility to fund capital expenditures, including a major turnaround at its Coffeyville refinery. In parallel, CVR Energy has extended its CEO Dave Lamp’s employment agreement, reflecting stability in leadership amidst these strategic financial decisions.
More about CVR Energy
CVR Energy, Inc. operates in the petroleum refining and nitrogen fertilizer manufacturing industries, focusing on producing high-quality transportation fuels and nitrogen-based fertilizers. The company primarily serves the agricultural and energy sectors, maintaining a strategic market presence through its refining and fertilizer production operations.
YTD Price Performance: -30.92%
Average Trading Volume: 1,488,574
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2B
Learn more about CVI stock on TipRanks’ Stock Analysis page.
