Corporate raider Carl Icahn has reached an agreement with the management of CVR Energy under which the company will drop its poison pill provision, clearing the way for a potential $2.26 billion bid for the Sugar Land, Texas-based oil refiner.

Icahn first began circling the CVR wagon in January, after his affiliates picked up a 14.5 percent stake in the company for about $144.7 million. The purchase also made Icahn the company’s largest shareholder, and CVR and its lawyers from Wachtell, Lipton, Rosen & Katz—who have plenty of experience battling the renowned shareholder activist—adopted antitakeover measures.