Agrium, PotashCorp provides update planned merger

Agrium, PotashCorp provides update on planned merger

7:45 AM, 8th September 2017
Nutrien logo
Upon closing the merger transaction, the new company will be named Nutrien.

SASKATOON/CALGARY, CANADA: Potash Corporation of Saskatchewan Inc (PotashCorp) and Agrium Inc (AGU) provided an update on the status of the proposed merger of equals transaction.

The regulatory review and approval process has progressed in all remaining jurisdictions. In Canada and US, the parties are working with the Canadian Competition Bureau and the Federal Trade Commission to resolve final issues in super phosphoric acid (SPA) and nitric acid.

The companies have also been informed that the Ministry of Commerce (MOFCOM) in China and, independently, the Competition Commission of India (CCI) intend to condition their respective approvals of the proposed transaction on the divestment of certain of PotashCorp's offshore minority ownership interests.

The remedies under consideration are not expected to impact the estimated $500-million of annual operating synergies. Both companies remain highly confident in consummating the merger of equals, but now expect to close the transaction by the end of the fourth quarter of 2017.

Upon closing the merger transaction, the new company will be named Nutrien. As the largest global provider of crop inputs and services, Nutrien will play a critical role in "Feeding the Future" by helping growers to increase food production in a sustainable manner.

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Archroma acquires 26 pc additional stake in Dohmen

REINACH, SWITZERLAND: Archroma has acquired an additional 26 percent shares M Dohmen SA, an international group specializing in the production of text ...

Read more
Grace donates $100,000 for Hurricane Harvey relief efforts

COLUMBIA, US: W R Grace & Co (GRA) said that its charitable organization, W R Grace Foundation Inc, is donating $100,000 to support the victims of ...

Read more
BASF opens fuel and lubricant technical lab in India

MUMBAI, INDIA: BASF India Limited, a subsidiary of BASF SE, has inaugurated its new technical lab for fuel and lubricant solutions at its Innovation C ...

Read more
AkzoNobel CFO Castella takes temporary leave

AMSTERDAM, NETHERLANDS: AkzoNobel NV said that Maelys Castella, chief financial officer and member of the board of management will step down due to he ...

Read more
Air Liquide signs hydrogen supply contract with Pemex

PARIS, FRANCE: Air Liquide SA has signed a new long term agreement with Pemex Transformacion Industrial, a subsidiary of Petroleos Mexicanos (Pemex), ...

Read more
H B Fuller to acquire Royal Adhesives for $1.8 million

ST PAUL, US: H B Fuller Company (FUL) has signed an agreement to purchase Royal Adhesives & Sealants LLC, a leading manufacturer of high-value spe ...

Read more