CVR Energy Rips Icahn's 'Detrimental' $2.6B Takeover Bid

Law360, New York (March 20, 2012, 4:36 PM EDT) -- Texas oil and gas company CVR Energy Inc. hurled another public jab Monday at investor Carl Icahn in a bitter battle over his $2.6 billion takeover bid, calling his wooing of shareholders a distracting and detrimental campaign.

CVR's board of directors once more rebuffed Icahn's advances in a statement, unanimously rejecting the unsolicited offer that values the fuel refiner at $30 per share for 73.9 million individual company stakes. Icahn had modified his original Feb. 23 offer last week, mostly in regards to limiting a contingent...
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