Icahn Enterprises (IEP) plans to increase its stake in CVR Energy (CVI) to over 81% from 66%, The Wall Street Journal reported late Thursday, citing draft statements from Icahn.
Icahn Enterprises, which is controlled by activist investor Carl Icahn, plans to buy up to an additional 15 million shares of CVR at a price of $17.50 per share, according to the report.
The firm intends to fund the purchase and other potential transactions by cutting its quarterly dividend by half to $0.50 per share, WSJ reported.
"Rarely have I seen a stock market with such extreme valuations - with some companies trading at unjustifiable premiums and others being massively undervalued," Icahn was quoted as saying. "These undervalued situations have created great opportunities for activists."
Icahn Enterprises and CVR Energy did not immediately respond to MT Newswires' requests for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 12.66, Change: +0.10, Percent Change: +0.80
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。