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Article: CF Industries Acquires 7% of Terra Industries Through Open Market Purchases.
- Article from:
- Business Wire
- Article date:
- September 28, 2009
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CF Industries Committed to Business Combination with Terra Industries and Sends Merger Agreement to Terra Industries
DEERFIELD, Ill. -- CF Industries Holdings, Inc. (NYSE: CF) today announced that it has acquired approximately 7% of Terra Industries Inc. (NYSE: TRA) in the open market over the past two weeks. CF Industries has purchased 6,985,048 shares at a cost of $247 million. CF Industries also announced that it has sent a Merger Agreement to Terra Industries detailing the terms of its proposed business combination. The proposed 0.465 exchange ratio represents a premium of over 35%.
Under the Merger Agreement:
* The exchange ratio would be ...