Fertilizer Merger Getting Richer (AGU, CF, TRA)
We’ve been watching the fertilizer industry’s merger triangle of Agrium Inc. (NYSE: AGU), CF Industries Holdings, Inc. (NYSE: CF), and Terra Industries, Inc. (NYSE: TRA) for a while now. In the latest development, Agrium has just raised the cash portion…
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Agrium takes the opportunity of sweetening the offer to refute the claims made by CF in its most recent rejection of Agrium’s offer last week. Terra is keeping its head down.
So far this morning, Agrium shares are off about 2.5%, CF shares are nearly flat, and Terra shares are off about 4%. Looks like the market thinks Terra is going to get left out.
Paul Ausick
March 27, 2009
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