Fertilizer seller Agrium (AGU Quote) said Monday that it plans to buy UAP Holding (UAPH Quote) for $39 a share, or roughly $2.2 billion.
Agrium will also assume $487 million of debt, taking the total transaction value to $2.65 billion. UAP markets chemicals, fertilizer and seed to farmers, commercial growers and regional dealers. After the agreement was announced, its shares jumped 29% to $38.50. Agrium was slipping 4 cents to $57.80. Agrium expects the acquisition to add slightly to earnings in the first year of the deal and be significantly accretive afterward. The companies expect to complete the transaction in early 2008.- Loading Comments...
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