CVR Energy retains Jefferies to Conduct Company Sale; Shares Down 1.5%


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CVR Energy, Inc. ( CVI ) announced that is has engaged Jefferies & Company, Inc. to conduct the previously disclosed sale process agreed to by the previous CVR Board of Directors and certain affiliates of Carl Icahn to solicit acquisition proposals from third parties to acquire CVR.

The 60-day process will begin today and end on July 23, 2012.

Carl Icahn has agreed to support any bona fide offer made during the 60-day sale process that exceeds $35 per share although they might accept lower offers.

CVI shares are down 1.5% to $27, but above a day low $25.94.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

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