CVR Energy, Inc. (CVI)
Chart Events
Performance Outlook
| Previous Close | 18.56 |
| Open | 18.48 |
| Bid | 18.62 x 800 |
| Ask | 18.67 x 1100 |
| Day's Range | 18.03 - 18.81 |
| 52 Week Range | 9.81 - 27.02 |
| Volume | 279,331 |
| Avg. Volume | 634,305 |
| Market Cap | 1.88B |
| Beta (5Y Monthly) | 1.98 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -2.55 |
| Earnings Date | May 04, 2021 - May 10, 2021 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | May 15, 2020 |
| 1y Target Est | 24.60 |
- Benzinga
Delek Pushes Back At Carl Icahn Proxy Contest: What You Need To Know
Delek US Holdings Inc. (NYSE: DK) a Brentwood, Tennessee-based downstream energy company, is pushing back at what it describes as a proxy contest coordinated by CVR Energy, Inc. (NYSE: CVI), a competitor controlled by investor Carl Icahn. What Happened: CVR acquired a 15% stake in Delek last year and is its largest shareholder; Icahn owns 70% of CVR. In January, CVR CEO David L. Lamp sent a letter to Delek Chairman Uzi Yemin proposing the replacement of three directors with a trio of CVR nominees, to be voted upon during Delek’s shareholders meeting on May 6. “Delek desperately needs new strategic direction,” Lamp wrote. “We would like to work collaboratively with you to replace three of your nominees at Delek’s upcoming 2021 Annual Meeting.” On April 8, CVR filed a lawsuit against Delek, claiming that the CEO’s total compensation of $81 million over the last eight years was “eye-popping” and was never properly disclosed to shareholders, adding that “Yemin is a poster boy for all that is wrong with corporate governance in America.” What Else Happened: Although Lamp claimed CVR had no intention to launch a takeover, Delek insisted that is not true. The company released a new shareholder letter and a fact sheet filed with the U.S. Securities and Exchange Commission that said the Sugar Land, Texas-based company was eager acquire rival Delek. To achieve its results, Delek continued, CVR was following “Carl Icahn's decades-old playbook of nominating friends and colleagues and making a range of misleading statements and half-truths to 'see what sticks' as it seeks to get its nominees elected.” Delek refuted the lawsuit’s claims, insisting the litigation was meritless and CVR sought to “obtain information that is inappropriate to share with a competitor.” Delek’s statement also asserted that CVR claims of a badly-run company were senseless because “Delek's total shareholder return (TSR) over the past 5 years is 78% versus 6% for CVR.” The Delek shareholder letter encouraged the company’s stakeholders to stay the course with the current board membership while depicting CVR as a “competitor whose interests are not aligned with those of Delek's shareholders, is pursuing tactics from the Icahn playbook to advance their self-serving agenda.” Illustration by Joel Stralnic See more from BenzingaClick here for options trades from BenzingaBudget Carrier Startup Avelo Airlines Launches With FaresDMX, Rapper With Troubled Life, Dies At 50© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Reuters
UPDATE 1-CVR Energy sues Delek for documents to establish CEO pay
Billionaire Carl Icahn's refiner CVR Energy, the largest shareholder in Delek US Holdings which has been trying to choose three members of that refiner's board, filed a lawsuit on Thursday seeking to inspect books and records of Delek relating to its CEO compensation. The lawsuit wants information about total compensation of Delek CEO Ezra Uzi Yemen, which CVR alleges was near $81 million between 2013 and 2020. Last month, Delek US Holdings rejected CVR's nominees to its board, days after Icahn's company questioned the CEO compensation and sent the initial demand letter.
- GlobeNewswire
CVR Energy Files Definitive Proxy Statement Relating to Delek US Holdings’ Annual Meeting
Vote “FOR” the CVR Nominees on the GOLD Proxy Card Today!SUGAR LAND, Texas, March 30, 2021 (GLOBE NEWSWIRE) -- CVR Energy, Inc. (NYSE: CVI) today announced that it and its affiliates (“CVR”) filed their definitive proxy statement in connection with the Annual Meeting of Stockholders of Delek US Holdings, Inc. (“Delek”), which is scheduled to take place on May 6, 2021, at 1:00 p.m., central daylight savings time, and will be held virtually. All stockholders of record of Delek at the close of business on March 18, 2021 are entitled to vote at the Annual Meeting. CVR Energy, Inc. is the largest stockholder of Delek, with ownership of approximately 14.8% of Delek’s outstanding common shares. CVR has nominated 3 candidates – Randall D. Balhorn, George J. Damiris and Robert Edward Kent, Jr. – for election to Delek’s board. CVR believes that change in Delek’s board composition is necessary and that CVR’s three highly qualified individuals with extensive operational and industrial experience will operate in the best interests of all of Delek’s stockholders. If you have already provided Delek with a proxy, you may revoke it by executing a later dated GOLD proxy card. If you have any questions, require assistance in voting your GOLD proxy card, or need additional copies of our proxy materials, please contact our proxy solicitor, Harkins Kovler, LLC, at the phone numbers listed below or by email:Harkins Kovler, LLC3 Columbus Circle, 15th FloorNew York, NY 10019Banks and Brokerage Firms Please Call Collect: (212) 468-5380All Others Call Toll Free: (800) 326-5997Email: DK@harkinskovler.com Additional Information and Where to Find it; Participants in the Solicitation CVR ENEGY, INC. AND AFFILIATES HAVE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND MAILED TO THE STOCKHOLDERS OF DELEK US HOLDINGS, INC., A DEFINITIVE PROXY STATEMENT AND A GOLD PROXY CARD IN CONNECTION WITH THEIR SOLICITATION OF PROXIES FOR USE AT THE 2021 ANNUAL MEETING OF STOCKHOLDERS OF DELEK US HOLDINGS, INC. SECURITY HOLDERS OF DELEK US HOLDINGS, INC. ARE ADVISED TO READ THE PROXY STATEMENT AND RELATED MATERIALS CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATED TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION. COPIES OF THE DEFINITIVE PROXY STATEMENT AND GOLD PROXY CARD ARE AVAILABLE AT NO CHARGE AT THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE AT HTTP://WWW.SEC.GOV. INFORMATION RELATING TO THE PARTICIPANTS IN SUCH PROXY SOLICITATION IS CONTAINED IN THE SCHEDULE 14A FILED BY CVR ENERGY, INC. AND AFFILIATES WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH 30, 2021. IMPORTANT DISCLOSURE INFORMATION THIS LETTER CONTAINS OUR CURRENT VIEWS ON THE VALUE OF SECURITIES OF DELEK US HOLDINGS, INC. OUR VIEWS ARE BASED ON OUR OWN ANALYSIS OF PUBLICLY AVAILABLE INFORMATION AND ASSUMPTIONS WE BELIEVE TO BE REASONABLE. THERE CAN BE NO ASSURANCE THAT THE INFORMATION WE CONSIDERED AND ANALYZED IS ACCURATE OR COMPLETE. SIMILARLY, THERE CAN BE NO ASSURANCE THAT OUR ASSUMPTIONS ARE CORRECT. THE ACTUAL PERFORMANCE AND RESULTS OF DELEK US HOLDINGS, INC. MAY DIFFER MATERIALLY FROM OUR ASSUMPTIONS AND ANALYSIS. OUR VIEWS AND OUR HOLDINGS COULD CHANGE AT ANY TIME. WE MAY SELL ANY OR ALL OF OUR LONG POSITIONS, OR INCREASE OUR LONG EXPOSURE BY PURCHASING ADDITIONAL SECURITIES. WE MAY TAKE ANY OF THESE OR OTHER ACTIONS REGARDING DELEK US HOLDINGS, INC. WITHOUT UPDATING THIS LETTER OR PROVIDING ANY NOTICE WHATSOEVER OF ANY SUCH CHANGES (EXCEPT AS OTHERWISE REQUIRED BY APPLICABLE LAW). THE INFORMATION CONTAINED ABOVE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF DELEK US HOLDINGS, INC. MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED ABOVE SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN DECISIONS REGARDING DELEK US HOLDINGS, INC. AND THEIR PROSPECTS BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED ABOVE. NEITHER CVR ENERGY, INC. NOR ANY OF ITS AFFILIATES ACCEPTS ANY LIABILITY WHATSOEVER FOR ANY DIRECT OR CONSEQUENTIAL LOSS HOWSOEVER ARISING, DIRECTLY OR INDIRECTLY, FROM ANY USE OF THE INFORMATION CONTAINED ABOVE. FORWARD-LOOKING STATEMENTS Certain statements contained in this letter are forward-looking statements including, but not limited to, statements that are predictions of or indications of future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties. Forward-looking statements are not guarantees of future performance or activities and are subject to many risks and uncertainties. Due to such risks and uncertainties, actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Forward- looking statements can be identified by the use of the future tense or other forward-looking words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “should,” “may,” “will,” “objective,” “projection,” “forecast,” “continue,” “strategy,” “position” or the negative of those terms or other variations of them or by comparable terminology. Important factors that could cause actual results to differ materially from the expectations set forth in this letter include, among other things, the factors identified under the sections entitled “Risk Factors” in Delek US Holdings, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2020 as well as the factors identified in Delek US Holdings, Inc.’s other public filings. Such forward-looking statements should therefore be considered in light of such factors, and we are under no obligation, and expressly disclaim any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. About CVR Energy, Inc. Headquartered in Sugar Land, Texas, CVR Energy is a diversified holding company primarily engaged in the petroleum refining and marketing business through its interest in CVR Refining and the nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP. CVR Energy subsidiaries serve as the general partner and own 36 percent of the common units of CVR Partners.
