Another big ag merger concludes

Another big ag merger concludes

Marriage of Agrium and PotashCorp receives final approval, firms to merge Jan. 1. New firm named Nutrien

This week another ag-related merger cleared its final regulatory hurdle and it was in the crop nutrition industry. Potash Corporation of Saskatchewan and Agrium Inc. received final clearance from the U.S. Federal Trade Commmission - the last regulatory hurdle. This creates what the companies call a merger of equals, and the transaction is expected to close effective Jan. 1, 2018.

In a media statement regarding the merger, Chuck Magro, president and CEO of Agrium, noted that "given our extensive integration planning work, we expect to move quickly upon closing to begin delivering on the many strategic benefits and synergy potential of this combination."

The combined companies will be known as Nutrien and Jochen Tilk, president and CEO of PotashCorp, said that the new company "will build upon the impressive legacies and best practices of both companies to create long-term value for all our stakeholders."

With the closing of the transaction on Jan. 1, 2018, common shares of Nutrien are expected to commence trading on the Toronto Stock Exchange and the New York Stock Exchange when markets open Jan. 2.

Trading of Agrium and PotashCorp common shares is expected to be suspended at the opening of market on Jan. 2, 2018, and those shares will be delisted at the close of the market on the same day. Cash entitlements in lieu of fractional Nutrien common shares will be based on the trading price of Nurtien common shares on the Toronto exchange on the first five days of trading.

The new company will be the largest crop nutrient company in the world, and the third largest natural resource company in Canada. The firm will have close to 20,000 employees and operate in 18 countries. Learn more about the new company by visiting worldclasscropinputsupplier.com.

Source: Agrium, PotashCorp.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish