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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.