Agrium/Potash Corp. Merger Closing on New Year’s Day

Dan Industry News Release

agriumShortly after the Christmas holiday, Agrium and Potash Corp. received a late present in the form of final merger approval. The U.S. Federal Trade Commission clearance was the final hurdle in the effort to complete the business merger. If the companies successfully meet all the closing conditions, approval will go into effect on January first.

The president/CEO of Agrium says the final clearance marks a significant milestone in bringing the two industry leaders together. He says the two companies have done extensive planning on how to quickly and successfully integrate both units together. Now that final approval has been granted, they will be working quickly to make good on many of the strategic benefits and synergy potential of the combination.

The new company will be named Nutrien, providing potash, phosphorus, and nitrogen to customers around the globe. The new company says it will be the third-largest natural resource company in Canada, with its headquarters based in Saskatoon. It’s projected to generate about $500 million in annual operating synergies.

From the National Association of Farm Broadcasting News Service.