Industrials
Agrium Ups Bid for CF; Terra Resists
In its latest bid, CF offered $32 a share in cash plus a fraction of a CF share in exchange for each Terra share. The cash portion of the bid includes the $7.50 per share special dividend declared by Terra as an anti-takeover measure, a point that Terra was quick to raise in its letter, arguing to its shareholders that they would effectively be giving away $750 million total if they accepted the CF offer.
Interestingly, in order to secure regulatory approval for any potential deal from Canadian authorities, Agrium has agreed, should it take control of CF, to sell parts of the CF's Canadian operations to Terra Industries. In premarket trading Thursday, CF shares were trading lower by 7.4% from the previous close, Agrium shares were unchanged, and Terra shares were jumping by about 4%. -- Written by Scott Eden in New York Follow TheStreet.com on Twitter and become a fan on Facebook.TheStreet Premium Services
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,393.45 | 1,310.33 | 2,827.34 | 15.81 |
Oil *
101.78
|
|
DOWN
26.41 |
DOWN
2.99 |
DOWN
10.02 |
DOWN
0.44 |
10 Yr
1.58%
SPDR Gold
151.62
|
|
-0.21%
|
-0.23%
|
-0.35%
|
-2.71%
|
Data delayed 20 minutes |
Connect with TheStreet