Carl Icahn Withdraws Offer for CVR Energy (CVI), Cites Widening of Crack Spreads
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Price: $63.64 +5.63%
Overall Analyst Rating:
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Dividend Yield: 8.6%
EPS Growth %: +252.9%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 8.6%
EPS Growth %: +252.9%
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Carl Icahn has withdrawn his offer to take CVR (NYSE: CVI) private.
From the filing:
At the time we made our original offer on August 6th to take CVR Energy private, we stated that we were willing to pay $29.00 per share but in no event would we consider paying more than $30 per share. Since then a number of market conditions have changed, including a significant widening of crack spreads. We no longer think that the proposed transaction is feasible at this time and we hereby withdraw it.
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From the filing:
At the time we made our original offer on August 6th to take CVR Energy private, we stated that we were willing to pay $29.00 per share but in no event would we consider paying more than $30 per share. Since then a number of market conditions have changed, including a significant widening of crack spreads. We no longer think that the proposed transaction is feasible at this time and we hereby withdraw it.
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Ichan
Michael Caliazzo on Aug 26, 2012 01:57 PMMark as Spam | Reply to this comment
he is a Added Value Buyer!