Industrials
Terra-CF-Agrium Deal Drama Continues
The takeover drama pits a number of dealmaking heavy-hitters against one another. Terra has the dogged law firm Wachtel Lipton, famed for its anti-takeover defenses, in its corner, as well as Cravath Swaine & Moore, another noted corporate law firm. CF has Watchel archenemy Skadden Arps, along with Morgan Stanley, in its corner. Meanwhile, there's Agrium(AGU), which has aggressively pursued a take-out of CF Industries, with Goldman Sachs as its consigliore.
For good measure, Agrium added its voice to the ongoing chorus of fertilizer indignation on Monday. In a press release, Agrium's CEO noted again the 60% of CF shares that were tendered to Agrium in its hostile tender offer last week. "Agrium is emboldened by the overwhelming support it received from CF stockholders, with 60% of CF shares (excluding Agrium's shares of CF) tendered to our very clear and unambiguous offer," Agrium CEO Mike Wilson said in a written statement. -- Written by Scott Eden in New York Follow TheStreet.com on Twitter and become a fan on Facebook.TheStreet Premium Services
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