SUNNY
ISLES BEACH, Fla., Jan. 9, 2025
/PRNewswire/ -- Icahn Enterprises L.P. (NASDAQ: IEP) ("IEP") and
Icahn Enterprises Holdings L.P. ("IEH") today announced the results
of IEH's cash tender offer for up to 17,753,322 shares of CVR
Energy, Inc.'s (NYSE: CVI) ("CVR Energy") common stock, par value
$0.01 per share, at a price per share
of $18.25 (the "Offer"), which
expired at 5:00 p.m., New York City time, on January 8, 2025.
Based on the count by Broadridge Corporate Issuer Solutions,
LLC, the depositary and paying agent for the Offer (the "Depositary
and Paying Agent"), a total of approximately 878,212 shares were
properly tendered and not properly withdrawn in the Offer.
IEH will accept for payment all shares properly tendered and not
properly withdrawn at a price of $18.25 per share, for a total purchase price of
approximately $16 million in the
aggregate. The shares to be accepted for payment by IEH represent
in the aggregate approximately 0.9% of CVR Energy's outstanding
common stock. The Depositary and Paying Agent will promptly pay for
the shares accepted for purchase by IEH.
D.F. King & Co., Inc. acted as information agent for the
Offer. Any questions regarding the Offer may be directed to the
information agent toll free at (866) 207-3626 or via email at
CVREnergy@dfking.com
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO PURCHASE,
OR A SOLICITATION OF AN OFFER TO SELL, ANY SECURITIES. THIS PRESS
RELEASE IS FOR INFORMATIONAL PURPOSES ONLY.
About CVR Energy
Headquartered in Sugar Land,
Texas, CVR Energy is a diversified holding company primarily
engaged in the renewables, petroleum refining and marketing
businesses as well as in the nitrogen fertilizer manufacturing
business through its interest in CVR Partners, LP. CVR Energy
subsidiaries serve as the general partner and own approximately 37%
of the common units of CVR Partners, LP.
About IEP and IEH
Icahn Enterprises L.P. (NASDAQ: IEP), a master limited
partnership, is a diversified holding company owning subsidiaries
currently engaged in the following continuing operating businesses:
Investment, Energy, Automotive, Food Packaging, Real Estate,
Home Fashion and Pharma.
Icahn Enterprises Holdings L.P. ("IEH") is a Delaware limited partnership. IEP owns a 99%
limited partner interest in IEH, and each of IEP and IEH are
indirectly controlled by Carl C.
Icahn.
Cautionary Statement Regarding Forward‑Looking
Statements
This press release may contain "forward‑looking statements"
within the meaning of the federal securities laws. In this context,
forward‑looking statements often address expected future business
and financial performance and financial condition, and often
contain words such as "expect," "anticipate," "intend," "plan,"
"believe," "seek," "see," "will," "would," "target," and similar
expressions, and variations or negatives of these words.
Forward‑looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
Offer and the anticipated benefits thereof, and the terms of the
related tender offer agreement. Such statements involve risks,
uncertainties and assumptions. If such risks or uncertainties
materialize or such assumptions prove incorrect, the results of the
Offer or the business of CVR Energy could differ materially from
those expressed or implied by such forward‑looking statements and
assumptions. All statements other than statements of historical
fact are statements that could be deemed forward‑looking
statements, including any statements regarding the expected
benefits and costs of the Offer; the expected timing of the
completion of the Offer; the ability of IEH to complete the Offer;
any statements of expectation or belief; and any statements of
assumptions underlying any of the foregoing. Risks, uncertainties
and assumptions include the possibility that expected benefits may
not materialize as expected; that the Offer may not be timely
completed, if at all; that, prior to the completion of the
transaction, CVR Energy's business may not perform as expected due
to transaction‑related uncertainty or other factors; and other
risks that are described in CVR Energy's latest Annual Report on
Form 10‑K and its other filings with the SEC. IEP and IEH do not
intend to update you concerning any future revisions to any
forward-looking statements to reflect events or circumstances
occurring after the date of this press release, except to the
extent necessary to amend and promptly disseminate revised
information in the event that our existing disclosure regarding the
Offer materially changes or as otherwise required by law or
applicable rule or regulation.
Investor Contact:
Ted Papapostolou
Chief Financial Officer
IR@ielp.com
(800) 255-2737
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SOURCE Icahn Enterprises L.P.
