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)
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