US law firm announces Agrium/UAP investigation

03 December 2007 18:00  [Source: ICIS news]

HOUSTON (ICIS news)--A US securities law firm announced on Monday an investigation into Canadian fertilizer company Agrium's proposed $2.65bn (€1.8bn) acquisition of United Agri Products (UAP).

The firm, Cauley, Bowman, Carney and Williams, gave no details about the investigation, including what it is about and what instigated it. Representatives from the firm were not immediately available for comment.

Agrium said it was unaware of an investigation, while UAP was not immediately available for comment.

Agrium announced the proposed deal earlier on Monday.

The boards from both companies have approved the acquisition. UAP's shareholders have yet to vote on the proposal.

If approved, the deal should close in early 2008, creating the largest agricultural retailer in North America.

($1 = €0.68)

By: Al Greenwood
+1 713 525 2645

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