Billionaire investor Carl Icahn on Feb. 16 issued a press release announcing a tender offer for all of the outstanding shares of CVR Energy Inc. Tendering shares will be paid $30 per share in cash, plus a contingent value right. The contingent value right will entitle holders to an additional payment, in cash, equal to the value that the share is sold for in excess of $30.
In addition, Icahn has nominated nine individuals to CVR’s board of directors.
For more details, see the Green Markets Web-Edition Feb. 17.