SUNNY
ISLES BEACH, Fla., Jan. 6, 2025
/PRNewswire/ -- Icahn Enterprises L.P. (NASDAQ: IEP) ("IEP"), and
Icahn Enterprises Holdings L.P. ("IEH"), today announced that the
expiration time of its 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"), has been extended from one minute after 11:59 p.m., New York
City time, on January 6, 2025
to 5:00 p.m., New York City time, on January 8, 2025. All other terms and conditions
of the Offer remain unchanged, and IEP and IEH do not intend to
further extend the Offer, increase the price of the Offer or
otherwise change any of the terms or conditions with respect to the
Offer.
The full terms and conditions of the Offer are discussed in the
Offer to Purchase, dated December 6,
2024 (the "Offer to Purchase"), and the associated Letter of
Transmittal and other materials relating to the Offer that were
filed with the Securities and Exchange Commission (the "SEC") and
distributed to CVR Energy's stockholders.
Broadridge Corporate Issuer Solutions, LLC, the depositary and
paying agent for the Offer, has informed IEP that as of
6:00 p.m., New York City time, on January 6, 2025, approximately 960,479 shares
have been tendered in the Offer, including 700,244 shares tendered
by guaranteed delivery. The number of shares tendered may change
significantly prior to the expiration time.
None of CVR Energy, the Special Committee - Strategic of its
Board, IEP or IEH or their affiliates, the information agent nor
the depositary and paying agent, are making any recommendation to
stockholders as to whether to tender or refrain from tendering
their shares in the Offer. Stockholders must decide how many shares
they will tender. In doing so, stockholders should read carefully
the information in the Offer to Purchase and the other offer
documents.
D.F. King & Co., Inc. is serving as Information Agent for
the Offer. Copies of the Offer to Purchase, Letter of Transmittal
and other related materials are available free of charge from D.F.
King & Co., Inc., toll free at (866) 207-3626 or via email at
CVREnergy@dfking.com, or on the SEC's website, at www.sec.gov. CVR
Energy's other public filings with the SEC, including annual
reports on Form 10‑K, quarterly reports on Form 10‑Q and current
reports on Form 8‑K, are also available for free on the SEC's
website at www.sec.gov.
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. THE OFFER IS MADE ONLY
PURSUANT TO THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND
RELATED MATERIALS THAT IEH HAS DISTRIBUTED TO CVR ENERGY'S
STOCKHOLDERS. IEH HAS FILED A TENDER OFFER STATEMENT ON SCHEDULE TO
WITH THE SEC. CVR ENERGY'S STOCKHOLDERS SHOULD READ THESE MATERIALS
AND THE DOCUMENTS INCORPORATED THEREIN BY REFERENCE CAREFULLY AND
IN THEIR ENTIRETY BEFORE MAKING ANY DECISION WITH RESPECT TO THE
OFFER AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE
OFFER.
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
consummation of 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 IEP to complete the Offer
considering the various conditions to the Offer, some of which are
outside the parties control; 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
does 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.
