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CF Industries Ups Bid for Terra, Topping Yara's Offer

6:49 AM MST | March 2, 2010 | Kerri Walsh

CF Industries has raised its offer to acquire Terra Industries, to $47.40/share, topping Yara International's offer of $41.1/share that was announced last month. The new CF offer values Terra at about $4.72 billion based on the company's outstanding shares as of March 1. CF walked away from a hostile bid for Terra in January.  Yara's bid was approved by the Terra board. Terra will have to pay Yara a $123-million breakup fee if it accepts another offer, Yara says. Yara declined to comment on CF's offer, and Terra could not be reached by press time.  CF's...

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