CF Industries continues its quest to merge with Terra Industries Inc., extending its offer deadline to Aug. 5.
The company filed a certification with the U.S. Federal Trade Commission (FTC) that it has substantially complied with the FTC’s request for additional information (Second Request). CF Industries received the request on June 3 in connection with its proposed business combination with Terra Industries.
Pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), if the FTC doesn’t challenge CF Industries’ substantial compliance with the Second Request, the premerger waiting period will expire at 11:59 p.m. Eastern time on Aug. 5.
"We are pleased with the steady progress we have made in obtaining regulatory clearance of our proposed business combination with Terra," says Stephen R. Wilson, chairman, president and chief executive officer of CF Industries.
CF Industries also has extended the expiration date of its exchange offer for all of the outstanding shares of Terra common stock until 5 p.m. Eastern time on Aug. 7, unless further extended. As of the close of business on July 3, a total of 2,860,681 shares of Terra common stock had been tendered into the exchange offer.