CF Industries Still Pursues Terra

Dan Skelton Reporting

Spencer, IA: (Mar. 02) - Fertilizer maker CF Industries has re-launched its hostile bid to buy rival Terra Industries.

Last month, Terra agreed to be bought by Norway’s Yara International for $4.1 billion in an all-cash deal that valued Terra’s stock at $41.10 per share.

CF’s latest offer is worth $4.74 billion and values Terra at $47.40 per share.

The move by CF Industries is the latest salvo in a long-running battle by fertilizer companies to expand their market share.

CF is also currently fighting off a hostile takeover attempt from Canada-based Agrium Inc.

Sioux City-based Terra had no immediate comment on the latest offer.

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