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    Sunday, November 22, 2009

    CF Industries Makes Revised Offer For Terra

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    By Myra P. Saefong
    MarketWatch Pulse
       

      TOKYO -- CF Industries Holdings Inc. submitted a merger agreement to Terra Industries Inc. over the weekend containing the same economic terms as its proposal on Nov. 1, but with a 30-day "go shop" provision subject to a break-up fee and expense reimbursement, according to Terra. The board of nitrogen-product supplier Terra has already said that CF's offer to acquire it for $24.50 a share in cash and 0.1034 of a share of CF common stock is inadequate. It has again concluded that the proposed merger agreement does not provide any basis for engagement with CF, Terra said in a press release.

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