Carl Icahn preparing offer to buy Delek Holdings-NY Post

Carl Icahn

Carl Icahn, who have an 82 percent stake in U.S oil refiner CVR Energy, is preparing to make an offer to acquire the Israeli owned Delek US Holdings Inc, The Post has reported.

The Post said on Thursday that there is  speculation that Icahn is building a personal stake in the Tennessee-based company.

Delek is an Israeli conglomerate and one of Israel’s largest companies,  controlled by Yitzhak Tshuva. In the Enrgy field assets including holdings in: Yam Tethys Partnership, Tamar gas field, Leviathan gas field, Tanin gas field, Aphrodite gas field.

Delek U.S operates 155, 000 barrels per day (bpd) in combined production capacity at refineries in Tyler, Texas and El Dorado, Arkansas. The company sells some of the oil at its 348 gas stations.  CVR capacity for refining crude oil and feedstocks totaled 210, 488 bpd in the second quarter.

Delek shares were up 5 percent in Thursday afternoon trading, to $15.03 — and have gained 19 percent in the last five trading days, Reuters reports.

But this year through Thursday’s close, Delek’s shares have fallen nearly 40 percent, while CVR stock had tumbled about 65 percent.

As of Thursday’s close, Delek had a market capitalization of about $921 million, while CVR’s equity value was $1.19 billion, said Reuters.

Besides eyeing up Delek, Icahn might also be preparing to take full ownership of Sugar Land, Texas-based CVR, sources told the Post.

It was not clear whether a potential deal between Delek and CVR would have any impact on Delek’s plans for Alon USA.

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