According to reports, Jana, which typically invests in companies undergoing changes like spinoffs, wants the unit split from its wholesale business. Agrium President Michael Wilson said the company's board unanimously agreed that a spinoff would not be in the best interests of the company or its shareholders.
Agrium has been positive about its outlook as a drought in the Midwest is leading to higher grain prices. The company reported a higher-than-expected second quarter profit and a C$900 ($907 million) share buyback plan.
According to Wilson, Agrium shareholders "will receive far greater value with less risk under the company's current strategy."
Standard Chartered is trending as the chief executive of the bank is in New York for a hearing with a regulator to discuss charges the bank hid transactions with ties to Iran. The New York State Department of Financial Services accuses Standard Chartered of hiding and deleting information that would have revealed transactions' links to Iran. The bank could have its license to operate in New York revoked. Standard Chartered said CEO Peter Sands is ready and willing to meet with the regulator to discuss the allegations and said it has been cooperating with the investigations. The bank has admitted to violations on 300 transactions. While some reports say Standard Chartered has attempted to settle the case for $5 million, the bank has not confirmed the reports. A hearing will take place on Wednesday and it is unclear whether the bank will participate.
Motorola is another popular search. Reports indicate the Droid RAZR HD will arrive in October. According to the rumors, Motorola plans to release the Droid RAZR HD as well as the Droid RAZR MAXX HD in October, pending enough sales of the Droid RAZR and RAZR MAXX. Reports indicate the launch of the new devices could be pushed back if enough Droid RAZR and RAZR MAXX devices have not been sold in time.
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