Canada’s Agrium clears regulatory path for CF takeover

17 November 2009 16:47  [Source: ICIS news]

HOUSTON (ICIS news)--Canadian fertilizer retailer Agrium has signed an agreement with the US Federal Trade Commission clearing the way for a possible takeover of CF Industries, the Alberta-based company said on Tuesday.

“This agreement further illustrates that we have a clear path to completing the CF acquisition and we remain prepared to immediately execute a fully financed, binding merger agreement,” said Agrium chief executive Mike Wilson.

Agrium’s latest offer to acquire all of the outstanding shares of CF is $45.00 (€30.15) in cash and one common share of Agrium for each CF share.

Agrium said on 5 November this was its best and final offer.

"CF Industries continues to believe that Agrium has failed to make a compelling offer,” a CF spokesperson said in response to Agrium’s latest announcement.

($1 = €0.67)

For more on fertilizers visit ICIS pricing fertilizers
To discuss issues facing the chemical industry go to ICIS connect


By: Frank Zaworski
+1 713 525 2653



AddThis Social Bookmark Button

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.

Printer Friendly

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