CBCnews
 
New licensing option: POST all or part of this article on a web site, intranet or blog.

Agrium's bid for CF stumbles

Last Updated: Friday, November 20, 2009 | 3:09 PM MT

Calgary-based Agrium on Friday suffered a setback in its bid to take over rival CF Industries.

The bid could be thwarted by CF's separate campaign to take over a third company, Terra Industries of Sioux City, Iowa.

Agrium's offer is conditional on CF dropping its bid for Terra.Agrium's offer is conditional on CF dropping its bid for Terra.

Terra shareholders voted Friday in favour of installing three CF-recommended directors to the Terra board. That increases the odds of Terra's board changing direction and recommending that their shareholders accept CF's $4.1-billion US offer.

Agrium's nearly $5-billion US offer for CF is conditional on it dropping its pursuit of Terra.

"I think that Agrium should simply take its marbles and go home. Agrium was a great company without CF and it's going to be a great company without CF in the future," said Mark Connelly, an analyst with Sterne Agee.

With files from The Canadian Press
  •  
 
New licensing option: POST all or part of this article on a web site, intranet or blog.
 

Calgary Headlines

Health costs push Alberta budget deficit to $4.75B Video
Alberta's Progressive Conservative government is projecting a record $4.75-billion budget deficit and planning cuts in many departments while increasing health-care spending.
Calgary mayor sees red over budget
Calgary may consider legal action against the province over cuts to infrastructure funding in Tuesday's budget, said the city's mayor.
Ludwig search warrant cites phone records, letter to EnCana
CBC has obtained a copy of the search warrant executed last month on Wiebo Ludwig's farm near Hythe, Alta., in connection with the investigation into the bombing of natural gas pipeline sites in B.C.
Police sting targets known prostitute strolls
A two-week investigation into prostitution on Calgary's streets has resulted in dozens of charges, say police.
Couple offers $50 to name their baby
A Stettler, Alberta couple is offering a $50 reward for help naming their next family member.

Canada Headlines

Health costs push Alberta budget deficit to $4.75B Video
Alberta's Progressive Conservative government is projecting a record $4.75-billion budget deficit and planning cuts in many departments while increasing health-care spending.
Trenton colonel's charges spur cold case review Video
The 2001 slaying of a Nova Scotia woman at CFB Trenton in eastern Ontario is among the cases being re-examined after murder charges were laid against Col. Russell Williams.
Neighbours stunned by arrest of Col. Williams
Ottawa resident Michael Gennis was stunned when he found out his new neighbour, Col. Russell Williams, had been charged with killing two women in eastern Ontario.
Olympic spirit will launch B.C. reforms: throne speech
The B.C. government says it will use the province's post-Olympics momentum to drive changes that include offering tax breaks to families with children, reforming education and lobbying Ottawa to amend "Byzantine bureaucratic practices."
Winter storm to hit southern Ontario
A storm system is expected to hit southern Ontario on Tuesday, dropping as much as 25 centimetres of snow in the Windsor region.

People who read this also read …

Top CBCNews.ca Headlines

Headlines

Trenton colonel's charges spur cold case review Video
The 2001 slaying of a Nova Scotia woman at CFB Trenton in eastern Ontario is among the cases being re-examined after murder charges were laid against Col. Russell Williams.
Health costs push Alberta budget deficit to $4.75B Video
Alberta's Progressive Conservative government is projecting a record $4.75-billion budget deficit and planning cuts in many departments while increasing health-care spending.
Ottawa to appeal injection site ruling Video
The federal government is asking the Supreme Court of Canada for leave to appeal a lower court ruling that sanctioned Vancouver's supervised drug injection site.
Haitian man pulled from rubble Video
A 28-year-old man has been pulled from rubble in Port-au-Prince, Haiti, claiming to have been trapped there since the massive earthquake on Jan. 12.
Tories need plan for isotope shortage: Ignatieff
Liberal Leader Michael Ignatieff accused the Conservative government of having no plan of action to deal with a medical isotope shortage expected to worsen later this month.