Issue Date: October 26, 2009
Terra Aids Agrium In Bid For Rival CF
Fertilizer firm Agrium has signed a conditional agreement with Terra Industries to sell half of its Carseland, Alberta, nitrogen fertilizer facility to Terra for $250 million in cash. Terra would receive annual capacity of 340,000 tons of urea and more than 60,000 tons of ammonia. The deal is intended to satisfy regulatory concerns over Agrium’s proposed takeover of CF Industries. The agreement is subject to Agrium completing the CF acquisition and relies on Terra raising $600 million in debt capital. Agrium’s successful acquisition of CF would end CF’s bid to buy Terra.
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