NEW YORK (AP) ? Billionaire investor Carl Icahn says a majority of CVR Energy shares have been tendered in support of his hostile takeover bid for the oil refiner.
Icahn, who wants to take control and then sell the Sugar Land, Texas company, says investors owning 55 percent of the company's outstanding shares accepted his offer of $30 per share.
But Icahn cannot actually buy those shares until CVR's board removes a "poison pill" rule that prevents the sale of the company. The board has refused to do that, arguing that it can deliver a greater return for shareholders.
Icahn called on the company to move up an annual meeting to decide the issue. He extended his $30 per share tender offer for the rest of the CVR shares.
CVR share rose 6 percent to $28.85 in premarket trading.
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