Delek US Holdings Reportedly Acquisition Target of Carl Icahn

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Delek US Holdings Reportedly Acquisition Target of Carl Icahn

08/12/2016

BRENTWOOD, Tenn. — Stock market stalwart Carl Icahn’s CVR Energy is perhaps planning to make an offer for Mapco Express parent Delek US Holdings Inc.

According to the New York Post, Icahn, an activist investor in many companies, has been accumulating shares in Brentwood-based Delek. He purchased a majority stake in CVR in 2012.

It is unclear if Delek’s MAPCO would be part of any acquisition, especially considering CVR specializes in oil refining. As CSNews Online reported in February, Delek was considering dropping down its retail division to its Delek Logistics Partners LP master limited partnership sister company. This transaction has yet to take place, however.

Delek’s stock has risen considerably on the news in the past two trading sessions upon rumors of the potential acquisition.

Delek's retail segment markets motor fuel and convenience merchandise via a network of 358 company-operated convenience store locations as of Dec. 31 operated under the MAPCO Express, MAPCO Mart, East Coast, Fast Food and Fuel, Favorite Markets, Delta Express and Discount Food Mart brand names.