62% of CF (CF) Stockholders Tender Agrium (AGU) Offer
Agrium Inc. (NYSE: AGU) today announced that CF Industries Holdings, Inc.'s (NYSE: CF) stockholders have tendered approximately 30.14 million CF shares, or 62% of the total outstanding CF shares, into its offer of $40.00 in cash plus one Agrium share per CF share as of the offer's expiration date last night at 12:00 midnight, New York City time. Agrium has extended the expiration date of the offer until 12:00 midnight, New York City time, July 22, 2009.
Agrium President and CEO Mike Wilson said, "CF stockholders have sent a resounding message to CF's Board that they support Agrium's offer. CF stockholders clearly understand that the Agrium offer is far superior to any alternative articulated by CF, including remaining independent or paying a premium for Terra. These are extraordinarily strong results, particularly given that CF's poison pill and other defense mechanisms are still in place and we urge CF's Board to respect this clear message from its stockholders."
Wilson added, "As we have previously stated on many occasions, a combined Agrium/CF would be a terrific company and Agrium is ready to meet immediately with CF and prepared to expeditiously execute a fully financed, binding merger agreement. We appreciate the support shown by CF stockholders and will continue to press forward to complete this compelling combination."
Agrium President and CEO Mike Wilson said, "CF stockholders have sent a resounding message to CF's Board that they support Agrium's offer. CF stockholders clearly understand that the Agrium offer is far superior to any alternative articulated by CF, including remaining independent or paying a premium for Terra. These are extraordinarily strong results, particularly given that CF's poison pill and other defense mechanisms are still in place and we urge CF's Board to respect this clear message from its stockholders."
Wilson added, "As we have previously stated on many occasions, a combined Agrium/CF would be a terrific company and Agrium is ready to meet immediately with CF and prepared to expeditiously execute a fully financed, binding merger agreement. We appreciate the support shown by CF stockholders and will continue to press forward to complete this compelling combination."
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