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Terra Urges Stockholders to Reject CF Bid
9:34 AM MST | March 5, 2009 | Kara Sissell
Terra Industries says its board of directors has unanimously recommended that Terra stockholders reject the $2.1 billion bid by CF Industries (Deerfield, MI) to acquire Terra. Terra also says Agrium’s recent $3.1 billion bid for CF, which is conditioned on CF abandoning the Terra bid, also makes it unlikely that CF stockholders will approve the CF bid. Terra has said that the bid undervalues Terra, and today it detailed for stockholders several other reasons why an acquisition by CF would be unwise. “Terra has deliberately pursued a strategy of...
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