Commodities & Metals
Fertilizer Merger Getting Richer (AGU, CF, TRA)
Published:
Last Updated:
We’ve been watching the fertilizer industry’s merger triangle of Agrium Inc. (NYSE: AGU), CF Industries Holdings, Inc. (NYSE: CF), and Terra Industries, Inc. (NYSE: TRA) for a while now. In the latest development, Agrium has just raised the cash portion of its offer for CF by more than 10%, to $35/share. The offer also includes a one-for-one exchange of CF shares for Agrium shares.
Agrium takes the opportunity of sweetening the offer to refute the claims made by CF in its most recent rejection of Agrium’s offer last week. Terra is keeping its head down.
So far this morning, Agrium shares are off about 2.5%, CF shares are nearly flat, and Terra shares are off about 4%. Looks like the market thinks Terra is going to get left out.
Paul Ausick
March 27, 2009
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.