Icahn Enterprises L.P. Reports Net Income In Q3; Proposes To Acquire Additional Shares Of CVR

Icahn Enterprises

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(RTTNews) - Icahn Enterprises L.P. (IEP) reported third quarter net income of $22 million, or $0.05 per depositary unit compared to a net loss of $6 million, or a loss of $0.01 per depositary unit, prior year. Adjusted EBITDA was $183 million compared to $243 million, last year. For the three months ended September 30, 2024, revenues were $2.8 billion compared to $3.0 billion, a year ago.

Separately, Icahn Enterprises L.P. announced that it has delivered a proposal to the board of directors of CVR Energy, Inc. to acquire additional shares of CVR common stock in a tender offer. IEP proposed that Icahn Enterprises Holdings L.P. would commence a tender offer to acquire up to 15 million additional shares of common stock, par value $0.01, of CVR, for a purchase price of $17.50 per share.

IEP currently beneficially owns, directly and indirectly, 66.3% of the outstanding shares of CVR common stock and, if the proposed tender offer were to be fully or over-subscribed, IEP would beneficially own, directly and indirectly, 81.3%, of the outstanding shares of CVR common stock.

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