Agrium (AGU), PotashCorp (POT) Holders Approve Merger of Equals
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Agrium Inc (NYSE: AGU) announced that its securityholders overwhelmingly voted to approve the company's proposed merger of equals with Potash Corporation of Saskatchewan Inc. (NYSE: POT) at the Special Meeting of Agrium securityholders that was held today.
Approximately 98 percent of the shares and voting options voted at the meeting were voted in favour of the merger. More than 108 million, or over 78 percent, of Agrium's outstanding shares and voting options were voted at the meeting.
"We appreciate the strong support we have received from Agrium securityholders for our transformational merger with PotashCorp. Today's approval represents a key milestone in the process to combine our two companies and create a new world-class integrated global supplier of crop inputs and services," said Chuck Magro, President and Chief Executive Officer of Agrium. "In addition to generating compelling value for shareholders, the integrated platform established through this combination will create benefits for customers, suppliers, and employees of both companies. We look forward to realizing the upside potential ahead."
PotashCorp separately announced today that its shareholders also overwhelmingly voted to approve the merger at a special meeting of PotashCorp shareholders.
As previously announced, the transaction is expected to close mid-2017, subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals and final approval by the Canadian court.
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