SUGAR LAND, Texas, Feb. 16, 2012 /PRNewswire/ -- CVR Energy, Inc.
(NYSE: CVI), a refiner and marketer of petroleum fuels and a
majority owner of CVR Partners, LP (NYSE:UAN), a nitrogen
fertilizer producer, announced today that it has received notice
from Icahn Partners LP, an entity controlled by Carl Icahn, of its intent to initiate an
unsolicited tender offer to acquire all of the outstanding shares
of CVR Energy for $30.00 per share in
cash, plus a contingent value right. Mr. Icahn has not commenced a
formal tender offer nor has he indicated when he will do so.
Mr. Icahn has also given the company notice that he intends to
nominate nine directors to the company's Board of Directors at the
next annual meeting, five of whom are employees of Mr. Icahn, and
to submit a shareholder proposal.
(Logo: http://photos.prnewswire.com/prnh/20071203/CVRLOGO)
CVR Energy's Board of Directors will review all of Mr. Icahn's
actions and respond as appropriate in due course.
Deutsche Bank AG and Goldman, Sachs & Co. are serving as
financial advisors to CVR Energy and Wachtell, Lipton, Rosen &
Katz is serving as legal advisor.
Forward Looking Statements
This news release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. You can generally identify forward-looking
statements by our use of forward-looking terminology such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"explore," "evaluate," "intend," "may," "might," "plan,"
"potential," "predict," "seek," "should," or "will," or the
negative thereof or other variations thereon or comparable
terminology. These forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond our control. For a discussion of
risk factors which may affect our results, please see the risk
factors and other disclosures included in our Annual Report on Form
10-K for the year ended Dec. 31,
2010, and any subsequently filed quarterly reports on Form
10-Q. These risks may cause our actual results, performance
or achievements to differ materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements. Given these risks and
uncertainties, you are cautioned not to place undue reliance on
such forward-looking statements. The forward-looking
statements included in this press release are made only as of the
date hereof. CVR Energy disclaims any intention or obligation
to update publicly or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
About CVR Energy, Inc.
Headquartered in Sugar Land,
Texas, CVR Energy, Inc.'s subsidiary and affiliated
businesses operate independent refining assets in Coffeyville, Kan., and Wynnewood, Okla., with more than185,000
barrels per day of processing capacity, a marketing network for
supplying high value transportation fuels to customers through
tanker trucks and pipeline terminals, and a crude oil
gathering system serving central Kansas, Oklahoma, western Missouri and southwest Nebraska. In
addition, CVR Energy subsidiaries own a majority interest in and
serve as the general partner of CVR Partners, LP, a producer of
ammonia and urea ammonium nitrate, or UAN, fertilizers.
Important Additional Information
CVR Energy, Inc. ("CVR Energy"), its directors and certain of
its executive officers may be deemed to be participants in the
solicitation of proxies from CVR Energy stockholders in connection
with the matters to be considered at CVR Energy's 2012 Annual
Meeting. CVR Energy intends to file a proxy statement with
the U.S. Securities and Exchange Commission (the "SEC") in
connection with any such solicitation of proxies from CVR Energy
stockholders. CVR ENERGY STOCKHOLDERS ARE STRONGLY ENCOURAGED
TO READ ANY SUCH PROXY STATEMENT AND ACCOMPANYING PROXY CARD WHEN
THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT
INFORMATION. Information regarding the ownership of CVR
Energy's directors and executive officers in CVR Energy's stock,
restricted stock and options is included in their SEC filings on
Forms 3, 4 and 5, which can be found at the CVR Energy's website
(www.cvrenergy.com) in the section "Investor Relations." More
detailed information regarding the identity of potential
participants, and their direct or indirect interests, by security
holdings or otherwise, will be set forth in the proxy statement and
other materials to be filed with the SEC in connection with CVR
Energy's 2012 Annual Meeting. Information can also be found
in CVR Energy's Annual Report on Form 10-K for the year ended
December 31, 2010, filed with the SEC
on March 7, 2011. Stockholders
will be able to obtain any proxy statement, any amendments or
supplements to the proxy statement and other documents filed by CVR
Energy with the SEC for no charge at the SEC's website at
www.sec.gov. Copies will also be available at no charge at
CVR Energy's website at www.cvrenergy.com or by writing to CVR
Energy at 2277 Plaza Drive, Suite 500, Sugar Land, Texas, 77479, Attn: Senior Vice
President, General Counsel and Secretary.
For
further information, please contact:
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Investor Relations:
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Media
Relations:
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Ed
Morgan
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Steve
Eames
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CVR
Energy, Inc.
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CVR
Energy, Inc.
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281-207-3388
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281-207-3550
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or
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MediaRelations@CVREnergy.com
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Jay
Finks
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or
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CVR
Energy, Inc.
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Tom
Johnson or Chuck Burgess
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281-207-3588
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Abernathy
MacGregor Group
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InvestorRelations@CVREnergy.com
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212-371-5999
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SOURCE CVR Energy, Inc.