9/102 sources · 2 publishersUpdated Nov 3, 09:20 UTC
CVR Energy close to $4 billion acquisition of Marathon Petroleum refineries
CVR Energy is poised to buy several Marathon Petroleum refineries in a transaction valued at $4 billion. The companies plan to announce the deal later on Tuesday. CVR, 71% owned by Carl Icahn, is the seventh‑largest U.S. refiner, while Marathon is a $125 billion market‑value firm. The deal follows a period of record U.S. Gulf Coast refining margins.
Why it matters
The acquisition would add significant refining capacity to CVR, expanding its asset base beyond its current $6 billion market value. Marathon would raise cash and streamline its portfolio by divesting the assets.
Key facts
- 1The sale is expected to be worth $4 billion. finance.yahoo.com
- 2The deal could be announced later today. finance.yahoo.com
- 3CVR Energy is 71% owned by Carl Icahn. finance.yahoo.com
- 4CVR Energy is the seventh‑largest publicly traded refiner in the United States. finance.yahoo.com
- 5CVR Energy’s market value is around $6 billion, while Marathon Petroleum’s market value is $125 billion. finance.yahoo.com
- 6U.S. Gulf Coast refining margins peaked at $72 per barrel in September. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.