BUZZ-CVR Energy gains after shareholder Icahn Enterprises offers to raise stake

Reuters11-08

** Shares of CVR Energy rise 3% to $17.04 premarket

** Carl Icahn's investment company Icahn Enterprises

proposes to acquire additional shares of CVI common stock in a tender offer

** The Wall Street Journal first reported the news on Thursday

** IEP offers to acquire 15 million additional shares at purchase price of $17.50 per share; ~6% premium to stock's last close

** IEP currently owns 66.3% of CVI's outstanding shares and if offer were to be fully or over-subscribed, IEP would own 81.3% of CVI's outstanding shares

** As of last close, CVI stock was down 45% YTD

(Reporting by Vallari Srivastava in Bengaluru)

((Srivastava.Vallari@thomsonreuters.com;))

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