• Most Popular
  • Most Shared

UPDATE 1-Agrium expands retail presence in Texas, New Mexico

Tue Nov 24, 2009 1:30pm EST

Stocks

   

* Says has bought 24 retail outlets from Agriliance

Stocks  |  Mergers & Acquisitions  |  Basic Materials

* Terms of the transaction not disclosed

TORONTO, Nov 24 (Reuters) - Canadian fertilizer maker and agricultural products retailer Agrium Inc (AGU.TO) said on Tuesday it has expanded its retail operations in Texas and New Mexico with the acquisition of 24 retail outlets from Agriliance.

The terms of the transaction were not disclosed.

"We are committed to deliver on our strategic growth objectives of doubling the size of our retail business, and this acquisition is a reaffirmation of that commitment," Agrium Chief Executive Mike Wilson said in a statement.

The company also reaffirmed its commitment to acquiring rival fertilizer maker CF Industries (CF.N).

CF has been fending off Agrium's overtures since February and is itself locked in a hostile campaign to acquire U.S. fertilizer maker Terra Industries (TRA.N). Agrium's roughly $5 billion bid for CF is contingent on CF dropping its takeover bid for Terra. [ID:nN23240167] (Reporting by Euan Rocha; editing by Peter Galloway) ((euan.rocha@thomsonreuters.com; +1 416 941 8185; Reuters Messaging: euan.rocha.reuters.com@reuters.net))

Stocks
Mergers & Acquisitions
Basic Materials


More from Reuters

Photo

Honda expands airbag recall as more Toyotas probed

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 440,000 cars around the world for faulty airbags as rival Toyota Motor Corp faced further probes over its largest-ever safety crisis. | Video

» More Top News
Chairman of the Federal Reserve Ben Bernanke testifies before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington July 22, 2009. REUTERS/Kevin Lamarque
John Kemp:

The Fed needs a new storyline

It's irrelevant whether the Fed sells its assets back to the market. What matters is whether and when it's prepared to raise rates.  Commentary 

Economy
A worker drives a Toyota Motor Corp's newly assembled Prius hybrid vehicle onto a trailer near the company's plant in Toyota, central Japan February 9, 2010.REUTERS/Yuriko Nakao
Reuters Breakingviews:

Toyota's troubles in overdrive

The cost of Toyota's recall nightmare is nothing compared to the price of fixing its battered reputation.  Commentary 

Autos