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People & Business :: People/Executives
Yara International to Buy Terra Industries for $4.1 billion
5:07 AM MST | February 15, 2010 | Natasha Alperowicz
Yara International (Oslo), the leading global fertilizer producer, has agreed to buy competitor Terra Industries for $4.1 billion, just weeks after CF Industries Holding abandoned its hostile bid to buy Terra. The acquisition is a major consolidation in the global fertilizer industry and will significantly strengthen Yara's presence in the U.S. The combined business will trade under the Yara name and it will have 8%-9% of the global fertilizer market.The transaction was unamimously approved by the boards of both companies. Yara will be paid $123 million break...
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