Refiner CVR Energy says evaluating strategic alternatives including sale [Reuters]
CVR Energy Inc. (CVI)
US:NYSE Investor Relations:
investors.cvrenergy.com
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Source: Reuters
Refiner CVR Energy says evaluating strategic alternatives including sale (Reuters) - Carl Icahn-backed U.S. oil refiner CVR Energy Inc said on Tuesday it was evaluating potential strategic alternatives, including a sale of the company, sending its shares up 3.7% after the bell. The company has engaged BofA Merrill Lynch as its financial advisor to assist it in the process. CVR also said it has sold its 1.5 million-barrel oil storage terminal and related assets in Cushing, Oklahoma to Plains All American Pipeline LP for about $36 million. Sugar Land, Texas-based CVR does not have a defined timeline for the exploration of strategic alternatives, the company said in a statement. Carl Icahn took a controlling state in the company in 2012 and Icahn Associates Corp had a near 71% stake as of March 31, according to Refinitiv data. Reporting by Debroop Roy in Bengaluru; Editing by Shailesh Kuber Our Standards: The Thomson Reuters Trust Principles.
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News
- CVR Energy Shares Gain as Carl Icahn Plans to Boost Stake [Yahoo! Finance]Yahoo! Finance
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- Icahn Enterprises Hits Rough Patch With Q3 Earnings Miss, Dividend Cut; Eyes Larger Stake In CVR Energy [Yahoo! Finance]Yahoo! Finance
- Thermon Group Sees Revenue Decline but New Orders Rise [Yahoo! Finance]Yahoo! Finance
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CVI
Earnings
- 10/28/24 - Miss
CVI
Sec Filings
- 11/8/24 - Form 8-K
- 11/8/24 - Form SC
- 11/8/24 - Form SC
- CVI's page on the SEC website