This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Jana Partners Releases New Letter To Agrium Shareholders

To help the board address these issues, we have proposed five new, independent directors who would bring much needed experience and a very clear shareholder mindset to the board. David Bullock, Mitchell Jacobson and Stephen Clark have created literally billions of dollars of value at distribution companies which Agrium has cited as peers for its Retail business.  Lyle Vanclief served Canada as the Minister of Agriculture and ran a commercial farm before that.  And I am the founder of JANA Partners and have been working successfully to unlock value at companies for over two decades.

More information about the 5 C's can be found at

The company has accused us of only wanting to "break up" Agrium to destroy value, but again they are hoping you will believe we invest money to lose it.  It is true that we have called for a review of whether Retail, which has been built primarily through acquisitions and has only been a large part of Agrium for 7 of its 82 years, would be better off as an independent publicly traded Canadian company.  Despite Agrium's supposed shock at this idea, many investors have been asking this for years and Agrium's CEO has called this a "good question to ask" (The Globe & Mail, 1/31/13).  If a fair and independent review, which Agrium has failed to conduct, showed that Agrium's current structure was the best one, we would accept that result.

Contrary to what you have heard from the company about JANA Partners' nominees, each of us will be independent, each of us will benefit only if all shareholders benefit, and each of us will only have a duty to Agrium.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.04 -0.62%
FB $118.32 0.22%
GOOG $699.21 0.50%
TSLA $215.14 -3.30%
YHOO $37.04 2.90%


Chart of I:DJI
DOW 17,691.78 +40.52 0.23%
S&P 500 2,056.24 +5.12 0.25%
NASDAQ 4,736.6340 +10.9950 0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs