This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

JANA Partners Statement At Agrium Annual Meeting

CALGARY, April 9, 2013 /PRNewswire/ - Barry Rosenstein, Managing Partner of JANA Partners, today made the following statement at the Annual General Meeting of Agrium Inc. ("Agrium") (TSX / NYSE: AGU) shareholders.

We are Agrium's largest shareholder by far and no one has a greater interest in seeing Agrium succeed than we do.  That's why we pushed for change at Agrium, and we're proud that this push led to significant improvements including the company's first large share repurchase in years, a dividend that increased by four-and-a-half times, and improved disclosure after years of reducing disclosure.

We are also gratified that as of the voting deadline on Friday, we had received 59 million votes for one or more of our nominees, including it appeared enough votes for David Bullock and me to be elected to the board of directors.

We have learned however that after the vote deadline, enough votes for us were apparently revoked to change the outcome. We don't know why otherwise the company would have started lobbying people after the deadline to change their votes.

Usually when an election is over and you have more votes than the other side you have won. Not in the case, however. Apparently offering to pay 25 cents a share was not enough to lock it up.

We intend to investigate the vote changes after the voting deadline and of course the vote buying, and to pursue all appropriate remedies.

From the beginning we attempted to work behind the scenes and collaboratively with management, as we always do.  This proved impossible as rather than real analysis from the company we were simply told that our ideas had zero validity and zero support.  This obviously has proved to be untrue, as the company has already adopted many of them and we have received significant shareholder support.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To 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.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs