- Agrium today announced a substantial increase in exchange offer of CF industries to $85.20 per CF shares based on Agrium’s closing stock price.
- CF stockholders would receive $40.00 in cash, an increase of $5.00 or 14.3% in the cash consideration.
- Increased offer represents a premium of 53% to CF’s closing price of February 24, 2009.
"This substantial increase in cash, along with Agrium's strong and diversified business profile, provides CF stockholders with a very attractive opportunity and reaffirms our commitment to acquiring CF. Given an increase of over 25% in the cash component since our initial offer, we believe more than ever that our bid delivers far superior value for CF stockholders compared with any alternatives articulated by CF, including remaining independent or paying a premium for Terra Industries." – Mike Wilson (CEO Agrium)
Source: Marketwire
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