Delek US Holdings (DK) Comments on CVR Energy (CVI) Letter

March 1, 2021 2:46 PM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Delek US Holdings, Inc. (NYSE: DK) ("Delek US") today issued the following statement regarding the Section 220 books and records request letter sent by CVR Energy, Inc. ("CVR"), a majority owned subsidiary of Icahn Enterprises L.P.:

Delek will review the Section 220 books and records request letter that we received from CVR this morning.

CVR has launched its activism campaign and proxy fight to drive its agenda – which we believe is not in the best interests of Delek shareholders. Indeed, CVR's previous letter demanded that Delek take a number of actions that would benefit CVR, to the detriment of Delek and its shareholders.

The successful execution of Delek's long-term strategy has clearly delivered value for our shareholders, demonstrated by a five-year total shareholder return of +92% in comparison to +28% for the average of our peers(1), including CVR, over the same period.

We will review and respond to CVR's letter in due course.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Board Changes, Corporate News

Related Entities

Carl Icahn, Twitter, Crude Oil