CVR Partners Cancels Its Fertilizer IPO (CVI)

By Douglas A. McIntyre Updated Apr 6, 6:07PM EDT · Published Jun 13, 5:18PM EDT

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CVR Energy, Inc. (NYSE: CVI) announced Friday evening that the managing general partner of CVR Partners has decided to postpone the IPO of its CVR Partners indefinitely.

The company noted that its review of public offering alternatives for CVR Partners, the
managing general partner has determined that current MLP (master limited partnership) market conditions do not currently support a solid IPO. This was aimed at maximizing the value of CVR’s fertilizer business.

The company now believes maintaining the fertilizer business within the parent CVR Energy will offer a greater value for its shareholders.

We reviewed this one for our SPECIAL SITUATION NEWSLETTER and included it in our picks about two months ago as a "bonus issue." Because it was still too close to the IPO date at the time, we did not create any formal recommendations as it was not able to be hedged with stock options at the time. That report is now off of embargo as our first target for the main culprit of the report was hit, so here is the actual report that we sent to subscribers.

Jon C. Ogg
June 13, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.