CF Industries (CF) Comments on Agrium's (AGU) Most Recent Bid

November 5, 2009 8:49 AM EST

CF Industries Holdings, Inc. (NYSE: CF) confirmed today that it has received another revised proposal from Agrium Inc. (NYSE: AGU) regarding an acquisition of CF Industries. CF Industries noted that Agrium's offer represents substantially lower multiples of EBITDA than CF Industries' offer for Terra Industries Inc. (NYSE: TRA).

CF Industries' board of directors will in due course review the latest revised proposal.

Morgan Stanley and Rothschild are acting as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP is acting as legal counsel to CF Industries.

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