Monday, May 21, 2012

Reuters: Private Equity: UPDATE 1-Icahn raises CVR Energy stake to 80 percent

Reuters: Private Equity
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UPDATE 1-Icahn raises CVR Energy stake to 80 percent
May 21st 2012, 11:23

Mon May 21, 2012 7:23am EDT

May 21 (Reuters) - Billionaire investor Carl Icahn said he has raised his stake in oil refiner CVR Energy Inc to 80 percent through an extended tender offer.

Icahn, who owned about 69 percent in the company before the extended offer, is still short of the 90 percent he needs to merge the oil refiner with one of his affiliates.

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