DealZone

You don’t call, you don’t write…

April 15, 2009

agriumFertilizer maker CF Industries released the latest in a series of letters to its shareholders on Wednesday in an attempt to defend against a hostile takeover attempt from Agrium.

CF, which is also working on its own hostile offer for rival Terra Industries, listed in the letter the reasons why its shareholders should support its slate of directors at CF’s annual meeting next week, instead of witholding their support as Agrium would like.

CF suggested that Agrium is not serious in its offer, but is instead trying to scuttle CF’s bid for Terra. One of their reasons could be called the “Jewish mother defense”: Agrium hasn’t called or written in ages.

“The fact is that Agrium and its financial advisors have not contacted or attempted to contact CF Industries in well over a month,” CF Chief Executive Stephen Wilson wrote in the letter. “The CEO of Agrium called on March 6, 2009, to ask if we needed additional information and he has not called since then.”

CF’s annual meeting is set for next week.

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