PotashCorp (POT), Agrium (AGU) Proposed Merger Approved by Ontario Superior Court of Justice, Shareholders
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Agrium Inc. (NYSE: AGU) and Potash Corporation of Saskatchewan Inc. (PotashCorp) (NYSE: POT) advised that the Ontario Superior Court of Justice has issued a final order approving their merger of equals transaction to be implemented by way of a plan of arrangement under the Canada Business Corporations Act. As previously announced, shareholders of both companies overwhelmingly voted to approve the proposed merger of equals.
The companies have made good progress with respect to making all required regulatory filings and as expected, have received a supplemental information request from the Canadian Competition Bureau and a second request from the U.S. Federal Trade Commission on November 2, 2016. Agrium and PotashCorp are working through the regulatory process as planned and continue to expect the transaction to close mid-2017, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals.
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