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Yara International Will Not Raise Offer for Terra Industries
March 12, 2010 | Natasha Alperowicz
Yara International said today that it will not raise its offer for Terra Industries to match or exceed a bid form CF Industries Holdings. Yara agreed last month to buy Terra for $4.1 billion in a deal, which would create a global fertilizer giant and expand Yara's presence in the U.S. "Terra would be a perfect fit to Yara and attractive at our proposed valuation, but we will not increase our offer that was first accepted by the Terra board," says Jorgen Ole Haslestad, president and CEO of Yara International. The growth ambition of Yara will...
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