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AGU - Agrium Inc News Story

$115 0.4  0.4%

Last Trade - 29/12/17

Sector
Basic Materials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £9.93bn
Position in Universe th / 6709

UPDATE 1-Potash Corp, Agrium win final approval to merge, forming Nutrien

Wed 27th December, 2017 8:42pm
(Adds details on merger, new company Nutrien, CEO quote) 
    WASHINGTON/CALGARY, Alberta, Dec 27 (Reuters) - Potash Corp 
of Saskatchewan Inc  POT.TO  and Agrium Inc  AGU.TO  have 
received final regulatory clearance to merge, forming a new 
company to be known as Nutrien, the two firms said on Wednesday. 
    The two Canadian fertilizer and chemical companies agreed to 
divest two of Agrium's U.S. production facilities to ensure 
merger approval from the U.S. Federal Trade Commission. 
    PotashCorp and Agrium agreed in a settlement with the FTC to 
divest one facility to Itafos  IFOS.V  and another to Trammo 
Inc, the FTC said. 
    The merger of two Canadian companies required U.S. 
regulatory approval because Nutrien will control the majority of 
North America's potash capacity as well as a large farm retail 
business. 
    The deal is now expected to close on Jan. 1, 2018, and 
Nutrien will start trading on Jan. 2 on the Toronto Stock 
Exchange and New York Stock Exchange under the ticker symbol 
NTR. 
    "This final clearance marks a significant milestone in 
bringing two industry leaders together," said Chuck Magro, 
president and chief executive of Agrium.  
    Magro will lead Nutrien as CEO and has said the company 
plans to expand its U.S. farm supply network and return cash to 
shareholders.  urn:newsml:reuters.com:*:nL1N1NE1D1 
 
 (Reporting by Tim Ahmann and Nia Williams in Calgary; Editing 
by Tom Brown) 
 ((tim.ahmann@thomsonreuters.com; +1 202 898-8370; Reuters 
Messaging: tim.ahmann.reuters.com@reuters.net)) 
 
Keywords: POTASHCORP AGRIUM/M&A
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