Agrium Extends CF Offer Deadline into Mid August

Agrium President and CEO Mike Wilson says, “Agrium remains fully committed to acquiring CF, and as we have previously stated, we strongly believe that combining Agrium and CF will create a terrific company and significant value for stockholders. Despite the fact that CF continues to ignore a clear mandate to conclude a transaction, we will continue to press CF to execute a mutually beneficial merger agreement. Our offer remains far superior to any alternative articulated by CF, including remaining independent or paying a premium for Terra.”

Agrium continues to believe that there are no material impediments to closing an Agrium/CF transaction, nor are there expected to be any material delays in closing as a result of regulatory review.

Agrium’s offer is not subject to a financing condition. Agrium has sufficient cash resources and committed financing underwritten by Royal Bank of Canada and The Bank of Nova Scotia to fund the cash portion of the offer

As of 5 p.m. Eastern time on July 17, 2009, approximately 10.4 million shares of common stock of CF Industries had been tendered into and not withdrawn from the exchange offer.
 

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One comment on “Agrium Extends CF Offer Deadline into Mid August

  1. We do NOT need any more mergers in the Fertilizer Industry. The rampant consolidations over the past few years have led to monopolies, which have led to atrociously high priced fertilizers, substantially increased input costs to growers and higher food costs for all. We need the creativity and competitivness that occured when there were numerous small producers, not the greed driven market we are now in.

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