To Energy IPO or Not to Energy IPO
One of my best trades for 2012 was Chesapeake Midstream (CHK), now Access Midstream (ACMP), which I recommended on an IPO and exited above $36, all while paying over 6%. Williams (WMB) completed yesterday buying the partnership of this MLP from Chesapeake (CHK) with secondary offerings from both companies. It's a major win/win.
I don't see the changeover stopping ACMP from bidding and winning on dropdowns from CHK, and secondary might deliver some pressure to ACMP and drop its price closer to $30, where I would pick it up again fast, despite budget deal implications....349 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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