Icahn Yanks Offer To Acquire Last 18% Of CVR Energy

Law360, New York (August 22, 2012, 8:41 PM EDT) -- Carl Icahn has withdrawn his $29 per common share offer to acquire the remaining 18 percent of CVR Energy Inc. that he does not own, citing declining oil market conditions, the activist investor said in a letter to the CVR board Tuesday.

Icahn's offer, first announced on Aug. 6, called for the company's remaining minority stakeholders to sell their shares to the billionaire investor for between $29 and $30 per share. But Icahn said Tuesday that he was pulling the take-private deal for the Sugar Land,...
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