CF Industries extends offer for Terra Industries' shares to June 26

By Lisa Kerner

Charlotte, N.C., May 22 - CF Industries Holdings, Inc. extended its exchange offer for all of the outstanding shares of Terra Industries Inc. to 5 p.m. ET on June 26 from 5 p.m. ET on June 12.

As of May 21, a total of 56,814 shares of Terra common stock had been tendered into the exchange offer, according to a CF news release.

CF Industries said it extended the expiration date on news that Terra will not hold its annual meeting prior to June 12 as expected.

Terra, a Sioux City, Iowa, nitrogen products company, rejected CF Industries' unsolicited offer as well as its prior offer in January.

As previously reported, CF Industries rejected a revised offer from Agrium Inc. to acquire the company for $40.00 per share plus one common share of Agrium for each CF share in favor of pursuing a deal with Terra.

Agrium, a Calgary, Alta., fertilizer company, began an unsolicited exchange offer for CF Industries' shares on March 16. The offer is set to end on June 15.

Deerfield, Ill.-based CF Industries Holdings is the holding company for CF Industries, Inc., a producer and distributor of nitrogen and phosphate fertilizer products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.