CF Industries Increases Offer For Terra
CF Industries Holdings, Inc. has increased its offer for Terra Industries Inc. by $4.75 in cash per share. CF Industries is now offering to acquire Terra for $36.75 in cash and 0.1034 of a share of CF Industries common stock for each Terra share. The offer has a value of $45.91, based on the CF Industries closing price as of Friday, December 4, 2009. The $36.75 cash portion of the offer includes the $7.50 per share dividend declared by Terra.
"We have made a compelling offer, which represents more than a 50% premium to what we believe would be the unaffected trading price for Terra," says Stephen R. Wilson, chairman, president and chief executive officer of CF Industries. "It is time to sign a merger agreement and put these two great companies together."