DealZone

Happy Anniversary Terra! Love, CF

January 15, 2010

Fertilizer maker CF Industries gave rival Terra Industries an early anniversary present last night.

The company pulled its hostile bid for Terra on Thursday — on the eve of the one-year anniversary of its original bid, which was launched on January 15, 2009.

The withdrawal marks an end to one side of the three-way hostile takeover battle that some have called the “Fertilizer Wars.” Now, Agrium‘s hostile bid for CF Industries, and CF’s defense against that bid, takes center stage.

Agrium said last night that it was still committed to its deal and notified CF that it would be nominating two candidates for that company’s board of directors at this year’s annual shareholder meeting.

That meeting has yet to be scheduled. But with the distraction of the CF’s bid for Terra out of the way, perhaps the Agrium and CF could find common ground before the one-year anniversary of Agrium’s bid comes on February 25?

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/