CF Industries extends offer for Terra Industries' shares to Aug. 31

By Lisa Kerner

Charlotte, N.C., Aug. 21 - CF Industries Holdings, Inc. extended its exchange offer for the outstanding shares of Terra Industries, Inc. to 5 p.m. ET on Aug. 31 from Aug. 21.

According to CF Industries, a total of 11,464,039 shares of Terra common stock had been tendered into the offer as of Thursday.

As previously reported, Agrium Inc., a Calgary, Alta., fertilizer company, extended its tender offer for CF Industries to midnight ET on Sept. 22 from Aug. 19. CF Industries stockholders had tendered approximately 10.5 million shares into the offer as of 5 p.m. ET on Aug. 14, according to an Agrium news release.

In exchange for each CF Industries share, shareholders will receive $40 in cash plus one Agrium share.

CF Industries rejected Agrium's offer in favor of pursuing a deal with Terra, a Sioux City, Iowa, nitrogen products company.

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

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