DOW JONES NEWSWIRES
Agrium Inc. (AGU) is taking one more run at acquiring CF Industries Holdings
Inc. (CF), boosting the cash component of its offer by $5 a share and raising
its bid for CF to a value of $93 a share.
Agrium, a fertilizer producer and competitor of CF, said its offer now
consists of
$45 plus one
Agrium share, for each CF share. That is up from the
previous offer of
$40 plus one
Agrium share.
Agrium called this offer its "best
and final offer."
It said it has extended its offer for CF to Nov. 18. The increased bid would
have a market valuation of about $4.3 billion.
In New York Wednesday, Agrium closed unchanged at $47.99, while CF closed up
1.1% at $86.39.
As reported, CF has rebuffed Agrium's attempts to acquire it. CF is trying to
acquire Terra Industries Inc. (TRA), a smaller fertilizer rival, and increased
its offer for Terra by $200 million on Monday. Terra has rejected that offer.
Wednesday, Agrium said it had reached an agreement with the Competition Bureau
of Canada to resolve competition concerns related to its proposed acquisition of
CF. This agreement involves a supply pact between Agrium and Terra.
Agrium has annual sales of about $10 billion, while CF is at $3.2 billion and
Terra is at $2 billion.
-By John Moritsugu, Dow Jones Newswires, 416-306-2100 john.moritsugu@
dowjones.com
Order free Annual Report for Agrium Inc.
Visit http://djnewswires.ar.wilink.com/?link=AGU or call 1-888-301-0513
(END) Dow Jones Newswires
11-05-090756ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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