Agrium agrees deal with US over $2.7bn UAP buy

18 April 2008 15:24  [Source: ICIS news]

TORONTO (ICIS news)--Agrium has agreed with the US Federal Trade Commission to divest certain retail centres in order to finalise its proposed $2.65bn acquisition of United Agri Products (UAP), the Canadian fertilizer major said on Friday.


Under a consent decree with the FTC, Agrium would divest seven out of a total of about 370 retail centres, it said.


The deal - still subject to the approval of FTC Commissioners - would allow Agrium to complete the acquisition by early May, it said.


Agrium also extended its tender offer for UAP common stock to 2 May, it added. The offer was previously set to expire on 30 April.


($1 = €0.63)

By: Stefan Baumgarten
+1 713 525 2653

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