04 November 2009 20:40 [Source: ICIS news]
“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 fertilizers
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