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    Thursday, November 05, 2009

    Agrium Raises Bid For CF Industries To $45 a Share

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    By Steve Gelsi
    MarketWatch Pulse
       

      NEW YORK -- Agrium Inc. on Thursday raised its hostile takeover offer for rival CF Industries Holdings Inc. to $92.99 a share, based on the closing price of Agrium stock on Wednesday. Agrium raised the cash portion of the deal to $45 a share, up $5, or 13% from its earlier offer. "This offer provides a premium of over 67% to CF's closing price on Feb. 24, the day before Agrium announced its initial proposal, and about 84% to CF's 30-day volume weighted average price through that date," Agrium said. Shares of CF Industries closed at $86.39 on Wednesday.

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