Dow Jones Newswires | Agrium Inc. again extended the tender
offer to acquire CF Industries Inc. in a deal valued at $5.47 billion,
this time to March 22, saying it remains “fully committed” to buying
the fertilizer company and adding two of its candidates to its board.

The extension comes about a month after CF withdrew its offer to acquire another fertilizer company, Terra Industries Inc., closing one chapter in a long-running turf war in the fertilizer industry that led to CF becoming a takeover target. Norway’s Yara International ASA unveiled plans Monday to acquire Terra in a $4.1 billion friendly takeover deal.

The global fertilizer market is recovering from a two-year boom-and-bust, triggering a series of efforts to tap improving supply and demand conditions.

Agrium President and Chief Executive Officer Mike Wilson said Friday the Yara-Terra deal “illustrates the important benefits of being part of a larger, global company.”

As of 5 p.m. EST Thursday, about 12.5 million, or 25 percent, of CF’s shares had been tendered in support of the Agrium offer. As of Jan. 13, the total was 13.8 million.

Agrium shares closed Thursday at $65.98 and CF finished at $102.01. Neither were active premarket. CF holders would get one Agrium share and $45 in return for each of their shares under Agrium’s latest bid.