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CVR Energy Nears $4 Billion Refinery Deal With Marathon

CVR Energy is acquiring two refineries and a marketing platform from Marathon Petroleum in a transaction valued at $4.2 billion. The deal, involving the company controlled by Carl Icahn, includes the St. Paul Park refinery. This acquisition occurs during a period of record refining margins and global fuel supply disruptions. While CVR Energy describes the transaction as transformative, Marathon Petroleum shares fell 9.66% following reports of asset sales and weak guidance.

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  • ✓ CVR Energy is acquiring two refineries and a marketing platform from Marathon Petroleum.
  • ✓ The transaction is valued at $4.2 billion.
  • ✓ Carl Icahn controls CVR Energy.
  • ✓ The deal includes the St. Paul Park refinery.
🛡️ Source Corroboration: 10 independent reporting domains (100% confidence) ⏱ Read time: ~2 min

What changed

The deal value is now specified as $4.2 billion for two refineries and a marketing platform.

Live updates

  1. CVR Energy to Acquire Marathon Petroleum Refineries in $4.2 Billion Deal

    CVR Energy is acquiring two refineries and a marketing platform from Marathon Petroleum in a transaction valued at $4.2 billion. The deal, involving the company controlled by Carl Icahn, includes the St. Paul Park refinery. This acquisition occurs during a period of record refining margins and global fuel supply disruptions. While CVR Energy describes the transaction as transformative, Marathon Petroleum shares fell 9.66% following reports of asset sales and weak guidance.

    Why it matters

    The deal expands the footprint of Carl Icahn's energy holdings in the refining sector. It marks a strategic shift for Marathon Petroleum as it manages its asset portfolio. Market volatility suggests investor concern over the resulting dilution or guidance provided by Marathon.

    What is confirmed

    • CVR Energy is acquiring two refineries and a marketing platform from Marathon Petroleum.
    • The transaction is valued at $4.2 billion.
    • Carl Icahn controls CVR Energy.
    • The deal includes the St. Paul Park refinery.

    What to watch next

    • Regulatory approval timelines for the refinery transfers
    • Final closing date of the transaction
    • Detailed financial impact on Marathon Petroleum's quarterly guidance
    Sources used for this update (12)
    1. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
    2. www.investing.com — Investing.com - Stock Market Quotes & Financial News
    3. WSJ — Exclusive | Carl Icahn’s CVR Energy Near Over $4 Billion Deal for Marathon Refineries
    4. Crude Oil Prices Today | OilPrice.com — CVR Energy Nears $4 Billion Refinery Deal With Marathon
    5. Reuters — CVR Energy nears more than $4 billion deal for Marathon's refineries, WSJ reports
    6. Business Wire — CVR Energy Announces Transformative Transaction to Acquire 2 Refineries and Marketing Platform From Marathon Petroleum
    7. The Business Journals — CVR Energy to acquire 2 refineries from Marathon Petroleum in $4.2B deal
    8. oilprice.com — EU Survey Reveals Massive Support for Renewable Energy Transition
    9. www.twincities.com — St. Paul Park refinery sold as part of $4.2B deal
    10. hdfcsky.com — Wayfair Jumps 9.8% on Earnings Beat, Shoals Gains 8.97% on Merger, Oracle Raises $20B, Marathon Falls 9.66%
    11. finance.yahoo.com — Can MPC's Gulf Coast Focus Fuel Stronger Future Refining Returns?
    12. finance.yahoo.com — CVR Energy Nears $4 Billion Refinery Deal With Marathon
    confidence 100%
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