Terra Rejects CF Takeover Bid | February 2, 2009 Issue - Vol. 87 Issue 5 | Chemical & Engineering News
Volume 87 Issue 5 | p. 17 | Concentrates
Issue Date: February 2, 2009

Terra Rejects CF Takeover Bid

Department: Business

Terra Industries has rejected an unsolicited, all-stock bid worth $2.1 billion from rival fertilizer maker CF Industries. Terra's board said that the offer "substantially undervalues" the company and that a deal would not be in the best interests of its shareholders. However, CF says it is "committed to a combination and will now consider its options." If a deal is completed, it would create the world's largest producer of nitrogen fertilizers, with capacity of 6.3 million tons per year.

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