Canada Agrium will continue pursuit of a CF takeover
04 November 2009 20:40 [Source: ICIS news]
HOUSTON (ICIS news)--Canadian fertilizer retailer Agrium was ready to make a renewed effort to acquire Illinois-based fertilizer maker CF Industries, Agrium’s chief executive said on Wednesday.
“We remain fully committed to acquiring CF and will continue to press them despite their unwillingness to negotiate,” Agrium president and chief executive Mike Wilson said in a conference call with analysts.
Wilson said Agrium is close to concluding discussions with securities regulators in Canada and the US, and the company’s next step would be announced shortly.
The Agrium offer for CF stands at $40 plus one share of Agrium common stock for each share of CF.
Looking ahead to fertilizer demand in 2010, Wilson said there was “nothing to indicate that we won’t have a knock-your-socks-off spring”.
An improvement in prospective crop margins in 2010 and increased US corn and soybean planted area due to land coming out of the Conservation Reserve Program made the outlook for 2010 positive, Wilson said.
In addition, he said recent demand from Pakistan and India has provided support to nitrogen markets.
For more on fertilizers visit ICIS pricing fertilizersTo discuss issues facing the chemical industry go to ICIS connect
By: Frank Zaworski
+1 713 525 2653
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 23 Nov 09 22:04 US soybean harvest nearly done, corn lags
- 17 Nov 09 14:54 CF Industries' shareholders advised to accept Agrium offer
- 16 Nov 09 17:11 US Terra cries foul over proxy firm report on CF board nominees
- 12 Nov 09 22:21 Canada’s Agrium takes plea to CF shareholders
- 05 Nov 09 14:57 US Terra calls CF’s latest proposal inadequate
- 05 Nov 09 14:07 Agrium makes final offer for CF Industries
- 04 Nov 09 14:38 US CF says offer for Terra is fair
- 04 Nov 09 13:43 Agrium's Q3 net profit down 93% year on year on weak sales
- 03 Nov 09 16:39 Canada Agrium favoured in fertilizer takeover fight
- 23 Oct 09 15:54 Canada’s Agrium looking past Q3 earnings drop
- 21 Sep 09 23:11 Agrium extends offer for CF Industries until 22 October
Latest News
- 18 Jun 13 08:35 GCC producers to offer fewer PE, PP cargoes to south Asia
- 18 Jun 13 08:22 China’s Fushun Petchem to delay PP, PE units restart by a month
- 18 Jun 13 08:15 China's Henyang to build new petchem ports, storage tanks
- 18 Jun 13 08:03 Polymer shipments from Saudi to India may face delays
- 18 Jun 13 08:01 China March PE, PP imports rise 11.6% month on month – traders