Icahn Defends Fuel Supplier Buyout Against $500 Million Lawsuit

July 28, 2021, 9:28 PM

Carl Icahn defended his $241 million buyout of CVR Refining LP two years ago, saying he paid a “fair premium” for the fuel supplier.

During about two hours of testimony Wednesday in a Delaware courtroom, the 85-year-old billionaire investor on several occasions responded to questioning by saying he didn’t recall or wasn’t sure.

“I do 20 deals a month sometimes,” he said at one point. “Don’t ask me why.”

Carl Icahn
Photographer: Victor J. Blue/Bloomberg

Six former unitholders in CVR sued in 2019, alleging that Icahn manipulated the price of its units in buying them out. They are asking the court to find that he ...

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