secwatch.observer — SEC 8-K summary
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Issuer:     CVR ENERGY INC (CVI)
CIK:        0001376139
Form:       8-K
Filed at:   2026-11-03T13:24:15+00:00
Accession:  0001193125-26-444428
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1376139/000119312526444428/0001193125-26-444428-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1376139/000119312526444428/d87305d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-444428

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