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Carl Icahn is reportedly withdrawing his offer to take CVR Energy (CVI) private due to...

Carl Icahn is reportedly withdrawing his offer to take CVR Energy (CVI) private due to deteriorating market conditions. In a letter, he states: "A number of market conditions have changed, including a significant widening of crack spreads. We no longer think that the proposed transaction is feasible at this time and we hereby withdraw it." Shares -2.5% AH.
Comments (2)
  • Chris Damas
    , contributor
    Comments (1182) | Send Message
     
    Huh? Widening crack spreads are good for oil refiners. This has to be about the unmarketability of CVR Partners.
    21 Aug 2012, 05:54 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (2500) | Send Message
     
    perhaps its for nat gas or something?
    21 Aug 2012, 08:10 PM Reply Like
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