CVR Energy to buy two Marathon refineries with Trafigura backing
The gist
CVR Energy agreed to acquire two refineries and a marketing platform from Marathon Petroleum.
Trafigura will buy $800 million of new CVR shares, reshaping the small refiner's scale.
How it unfolded
- Feb 20, 2026 -24, 2026Carl Icahn bought 783,404 CVR shares in three transactions worth over $16.44 million, lifting his stake to 71,201,875 shares, or 70.82%.
- Jul 30, 2026CVR's petroleum segment posted adjusted EBITDA of $106 million for Q2, up from $38 million a year earlier, with $264 million of free cash flow.
- Oct 26, 2026CVR stock closed at $62.02, up 6.64% in a day and 146.21% year-to-date.