CVR Partners of Sugar Land turned to Vinson & Elkins and Rentech Nitrogen Partners is using lawyers from Latham & Watkins for CVR's pending acquisition of Rentech in a deal valued at about $839 million.

On Aug. 10, CVR announced a definitive merger agreement under which it will acquire all outstanding units of Los Angeles-based Rentech Nitrogen, except for Rentech Nitrogen's Pasadena operation, which will be retained by Rentech Nitrogen unitholders and sold separately. Terms of the acquisition call for CVR to pay about $533 million and assume about $307 million in Rentech Nitrogen debt. Holders of each outstanding common unit of Rentech Nitrogen will receive 1.04 units of CVR Partners and $2.57 in cash.

The companies produce nitrogen fertilizers, and the merger will create the second largest producer of urea ammonium nitrate in North America.