March 12, 2010 at 11:17 a.m.
Filed under:
Agriculture/Farming,
M&A
Terra Industries Inc.’s facility in Verdigris, Okla. (Terra Industries via Bloomberg)
By Michael Oneal | Putting an end to an extended four-way takeover drama in the fertilizer
business, Deerfield-based CF Industries Holdings, Inc. announced Friday
that it had won control of rival Terra Industries Inc. in a takeover
valued at $4.7 billion.
The fertilizer giant, which has pursued Terra for more than a year,
claimed victory when Norway’s Yara International ASA, which had also
been pursuing Terra, said it wouldn’t top CF’s latest bid.
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March 12, 2010 at 8:52 a.m.
Filed under:
Agriculture/Farming,
Stock activity
By Michael Oneal | Potash Corp. of Saskatchewan, which has a big U.S. headquarters in
Northbrook, roared out of the box in early Friday trading after the
company sharply raised its first-quarter forecast on Thursday, citing a
strong rebound in demand for potash, a key agricultural fertilizer.
Shares were up $8.48 to $125.41 in the opening minutes, just shy of the
company’s 52-week high. They closed Thursday at $116.93 apiece.
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March 11, 2010 at 5:30 p.m.
Filed under:
Agriculture/Farming,
M&A
Dow Jones Newswires | Agrium Inc. announced late Thursday that
it has decided to terminate its long-standing hostile offer for fellow
fertilizer company CF Industries Holdings Inc., allowing the offer to
expire at midnight on March 22.
Agrium had offered one Agrium share and $45 in cash for each CF share,
contingent on CF abandoning its own bid for Terra Industries Inc.
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March 10, 2010 at 9:31 a.m.
Filed under:
Agriculture/Farming,
M&A
Associated Press | Fertilizer company Terra Industries said Wednesday its board favors a
bid to be acquired by CF Industries instead of a previous agreement
with Norway’s Yara.
Terra, based in Sioux City, Iowa, has given Yara five business days to
meet or beat CF’s offer. Yara $4.1 billion buyout deal was announced
last month. Chemical maker CF Industries Holdings Inc., based in Deerfield last week offered to buy Terra Industries Inc. in a cash and
stock deal valued at $4.7 billion.
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March 5, 2010 at 7:25 a.m.
Filed under:
Agriculture/Farming,
M&A
Associated Press | CF Industries Holdings Inc. said Friday it
has begun its unsolicited $4.7 billion offer for fertilizer company
Terra Industries Inc., which has already accepted a buyout offer from a
Norwegian company.
Chemical maker CF, based in Deerfield, on Tuesday offered $37.15 in
cash and nearly one-tenth of a share of common stock for each Terra
share. The exchange offer for all of Terra’s outstanding shares will
expire at 5 p.m. Eastern time on April 2.
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March 3, 2010 at 10:59 a.m.
Filed under:
Agriculture/Farming,
Food
Workers carry buckets of tomatoes to a drop off point after a January freeze that hit Florida. (Joe Raedle/Getty Images)
Dow Jones Newswires-Wall Street Journal | A shortage of tomatoes
from weather-battered Florida is forcing restaurants and supermarkets
to ration supplies amid soaring prices.
Fast-food chains such as Wendy’s, a unit of Wendy’s/Arby’s Group Inc.,
have stopped automatically including tomatoes in sandwiches; now
customers have to know to ask.
Even then, consumers might not get what they usually do. At Lloyd’s, a
white-tablecloth restaurant across from the Chicago Mercantile
Exchange, signs went up this week warning that only plum tomatoes are
available.
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March 2, 2010 at 6:49 a.m.
Filed under:
Agriculture/Farming,
Food,
M&A
| Tribune staff report | Deerfield-based CF Industries Holdings, Inc.said it has offered to acquire fertilizer rival Terra Industries Inc. for $47.40 a share, valuing the bid at approximately $4.7 billion.
Iowa-based Terra, the former object of a hostile takeover offer from CF, agreed earlier this month to be bought by Norway’s Yara for $4.1 billion cash.
“It is clear that CF Industries is the best acquirer for Terra given the compelling strategic benefits of the combination, including the substantial synergies only we can achieve together,” said Stephen R. Wilson, chairman, president and chief executive officer of CF Industries.
|
|
See also
• Greg Burns: Fertilizer wars back on
|
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Feb. 19, 2010 at 7:10 a.m.
Filed under:
Agriculture/Farming,
M&A
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.
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Feb. 15, 2010 at 5:51 a.m.
Filed under:
Agriculture/Farming
Associated Press | Terra Industrie Inc., a fertilizer company eyed for acquisition by Deerfield-based CF Industries, agreed to be bought, ending CF Industries’ year-long pursuit.
Norwegian fertilizer company Yara International ASA said Monday it has
agreed to acquire U.S. competitor Terra Industries Inc. for $4.1
billion. Yara said it would pay $41.10 per share of Terra stock, a 23.6 percent premium on Friday’s closing share price.
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Feb. 4, 2010 at 9:54 a.m.
Filed under:
Agriculture/Farming
Tribune staff report | Archer Daniels Midland Co. declared a cash dividend of 15 cents per share payable March 11 to stockholders of record Feb. 18, This is an increase of 1 cent a share. ADM said it was its 313th consecutive quarterly payment over 78 years.
Feb. 3, 2010 at 6:11 a.m.
Filed under:
Agriculture/Farming,
Consumer news,
Food
Shopping for milk at the Orland Park Wal-Mart. (David Pierini/Chicago Tribune)
As
sociated Press | With milk prices expected to rebound in 2010 thanks to improved U.S. sales and a recovering export market, dairy farmers are planning to produce much milk as they can to make up last year’s losses.
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