CF Industries Updates Terra Offer
There's been a change in CF Industries' offer for Terra Industries. Learn what it is and why.
May 18, 2009
CF Industries Holdings, Inc. has extended the expiration date of its exchange offer for all of the outstanding shares of Terra Industries Inc. common stock to June 26. The exchange offer had been scheduled to expire on June 12.
According to a CF Industries news release, the June 12 date was shortly after Terra was required to hold its annual meeting based on the record date it set of March 9. “It appears that Terra Industries is not holding its annual meeting prior to June 12, and will be required to set another record date,” the release states.
The offer has been extended until 5:00 Eastern time June 26, unless further extended. All other terms and conditions of the exchange offer remain unchanged. As of the close of business on May 21, a total of 56,814 shares of Terra common stock had been tendered into the exchange offer.
CF Industries also is currently fending off a potential purchase of its own assets by Agrium, Inc.