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Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:35 EDTCVRR, IEP, CVICVR Refining announces plans for 20M unit initial public offering
CVR Refining announced earlier this morning the launch of its initial public offering of 20M common units representing limited partner interests at a price of $24-$26 per unit. CVR Refining will list its common units on the New York Stock Exchange under the symbol "CVRR." After the offering, CVR Energy (CVI) will indirectly own common units representing approximately 86.4% of CVR Refining's outstanding units and CVR Refining's general partner, which owns a non-economic general partner interest in CVR Refining. In addition, the majority stockholder of CVR Energy, Icahn Enterprises (IEP), has indicated that it or its affiliates may purchase up to 4M of CVR Refining's common units in the offering, in which case they will own approximately 2.7% of the outstanding common units. Credit Suisse, Citigroup, Barclays, UBS Investment Bank and Jefferies are acting as joint book-running managers and J.P. Morgan, Macquarie Capital and Simmons & Company International are acting as co-managers for the initial public offering. 
News For CVI;IEP;CVRR From The Last 14 Days
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November 25, 2014
16:50 EDTIEPIcahn says agreed to exchange $286M Taj Mahal debt for equity
In an open letter to Local 54 president Bob McDevitt, Carl Icahn commented on the Shareholders' Square Table website: "I also care about the Taj Mahal, and that is why I am doing everything I can to save the jobs of the 3,000 employees who work there. To that end, I am agreeing to exchange my $286M of outstanding debt for equity and, if the proper deal is reached with the City, State and Union, to invest an additional $100M in the Taj. In addition, even though the Judge observed that the Union did not bargain in good faith and ruled that the company could terminate the existing healthcare plan and pension, I have told the company that I will even go along with their proposal to restore Local 54 healthcare for two years and create a new pension, if Local 54 will withdraw its appeal and provide labor peace." Reference Link
November 18, 2014
06:31 EDTCVICVR Energy coverage resumed with a Sell at Goldman
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06:30 EDTCVRRCVR Refining coverage resumed with a Neutral at Goldman
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November 14, 2014
17:01 EDTIEPIcahn Associates gives quarterly update on stakes
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