---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-444428"
form_type: "8-K"
ticker: "CVI"
cik: "0001376139"
company_name: "CVR ENERGY INC"
filed_at: "2026-11-03T13:24:15+00:00"
generated_at: "2026-11-03T13:25:12.371093+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# CVR Energy to acquire Marathon refineries for $4.2B; Trafigura invests $800M, IEP commits $500M

## Summary
- Base cash purchase price $4.2B for St. Paul Park Refinery, Mandan Refinery, 17% of Minnesota Pipe Line and MPL Investments, plus logistics assets.
- Trafigura US Holdings to buy ~14,989,695 Series A-1 preferred shares at $53.37/share for $800M; convertible 1-for-1, capped at 9.50% beneficial ownership.
- Icahn Enterprises' AEP commits up to $500M for Series A-2 mandatory convertible preferred at $53.37/share; 1.00% commitment fee; IEP can designate six directors above 50% ownership.
- Deal needs HSR clearance and North Dakota DEQ approval for Mandan hazardous-waste permit; outside date 270 days, extendable to 360 days for antitrust or casualty.
- Reverse termination fee: $84M (2%) for antitrust failure, $252M (6%) for willful breach/financing failure, $168M (4%) for other failures; not cumulative.

## SEC filing metadata
- accession: 0001193125-26-444428
- form_type: 8-K
- ticker: CVI
- cik: 0001376139
- company_name: CVR ENERGY INC
- filed_at: 2026-11-03T13:24:15+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1376139/000119312526444428/0001193125-26-444428-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1376139/000119312526444428/d87305d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-444428
- JSON: https://secwatch.observer/filing/0001193125-26-444428.json
- Plain text: https://secwatch.observer/filing/0001193125-26-444428.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.