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Agrium Inc (AGU)

AGU on New York Consolidated

90.10USD
27 Sep 2016
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$-0.24 (-0.27%)
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Latest Key Developments (Source: Significant Developments)

Potash Corp, Agrium merger could accelerate retail expansion
Tuesday, 20 Sep 2016 09:52am EDT 

Potash Corp, Agrium CEOs, speaking at Scotiabank investor conference in Toronto: Merger with Potash Corp of Saskatchewan will allow acceleration of farm retail expansion - Agrium CEO . CEOs say they made no specific commitments to Saskatchewan government about merger Further company coverage: [POT.TO] [AGU.TO] (Reporting By Rod Nickel) ((rod.nickel@thomsonreuters.com;)).  Full Article

Moody's places Potash Corp under review for downgrade following merger announcement
Tuesday, 13 Sep 2016 01:01pm EDT 

: Moody's places Potash Corp under review for downgrade following merger announcement .Moody's on Potash Corp - "Management has not laid out their near-term financial priorities for cash".  Full Article

Moody's places Agrium under review for upgrade following merger announcement with Potash
Tuesday, 13 Sep 2016 01:01pm EDT 

Nikkei: Moody's places Agrium under review for upgrade following merger announcement with Potash Corp .Moody's on Agrium - "review for upgrade reflects the fundamental benefits of the combined entity with a larger balance sheet".  Full Article

Potash Corp says either party to pay $485 mln fee to other party if merger terminated
Monday, 12 Sep 2016 09:44am EDT 

Potash Corporation of Saskatchewan Inc : Says either party may be obligated to pay a $485 million termination fee to the other party, in case of termination of merger .If arrangement is not completed because of material breach by a party, breaching party will be obligated to pay nonbreaching party $50 million.  Full Article

Agrium says new co will have low-cost capacity of about 22 mln tonnes
Monday, 12 Sep 2016 09:44am EDT 

Agrium Inc , Potash Corp : Based on the Aug 29, market caps of both Potash and Agrium, combined co will have $26 billion market cap - conf call . New co will have combined low-cost capacity of about 22 million tonnes - conf call . Combined co will have a diverse phosphate product portfolio, and will be largest input and retailer in world, with more than 1400 locations . Majority of $500 million of annual operating savings from deal are unrelated to headcount . The $500 million of annual synergies will take about two years to get, driven by having the combination of 2 companies . After deal close will almost be singularly focused on integration, delivering synergies that don't require international effort or exposure or investment . After deal close will stay focused in our backyard in North America . "We don't expect any concerns when it comes to shared wallet with the farmer" - conf call . In terms of potash, highly confident that there will be absolutely no problem - conf call . Have every bit of confidence we can see this transaction go through as is without divestitures . Independent of market conditions will be able to achieve 20 percent improvement in market caps by execution Further company coverage: [AGU.TO] [POT.TO] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Agrium and PotashCorp to combine in merger of equals
Monday, 12 Sep 2016 06:00am EDT 

Agrium Inc : Agrium and PotashCorp to combine in merger of equals to create a world-Class integrated global supplier of crop inputs . New company to be named prior to transaction's closing . Registered head office in Saskatoon, with Canadian corporate offices in both Calgary and Saskatoon . PotashCorp shareholders will receive 0.400 common shares of new company for each common share of PotashCorp they own . Agrium shareholders will receive 2.230 common shares of new company for each common share of Agrium they own . Says Jochen Tilk will serve as executive chairman, and chuck magro will serve as chief executive officer . Upon closing of transaction, Jochen Tilk will serve as executive chairman, and Chuck Magro will serve as chief executive officer . PotashCorp shareholders will own about 52 percent of new co, Agrium shareholders will own about 48 percent on fully diluted basis . On a 2015 pro forma basis, new company would have had net revenue of approximately us$20.6 billion and EBITDA of us$4.7 billion before synergies . New company's board of directors will have equal representation . Morgan Stanley & Co LLC is serving as joint financial advisor to Agrium and PotashCorp . Agrium inc says combination of both companies expected to generate up to US$500 million of annual operating synergies.  Full Article

Agrium's crop production services announces two retail acquisitions
Tuesday, 6 Sep 2016 10:45am EDT 

Agrium Inc : Agrium's crop production services announces two retail acquisitions, to add 34 locations in the u.s. And canada . Received regulatory approval for its retail business to acquire 16 locations in western canada from andrukow group solutions inc .Additionally, cps recently completed acquisition of 18 locations from cargill aghorizons (u.s.) across northern u.s. Corn-Belt region.  Full Article

Fitch Potashcorp/Agrium merger talks highlight distribution
Thursday, 1 Sep 2016 09:05am EDT 

Fitch Ratings: Consolidation in sector is being driven by low valuations,synergies and longer term growth prospects .Believe Potash prices have bottomed with curtailed production,price appreciation could be modest through 2018.  Full Article

Agrium confirms talks with Potash Corp for potential merger of equals
Tuesday, 30 Aug 2016 11:39am EDT 

Agrium Inc : Agrium confirms discussions with PotashCorp regarding potential merger of equals . No decision has been made as to whether to proceed with a combination .No agreement has been reached with Potash Corp.  Full Article

Potash Corp, Agrium planning to merge - Bloomberg
Tuesday, 30 Aug 2016 10:09am EDT 

:Potash Corp, Agrium Inc planning to merge; combination could be announced as soon as next week - Bloomberg, citing sources.  Full Article

CANADA STOCKS-Futures fall as investors eye U.S. debate, oil meet

Sept 26 Stock futures pointed to a lower opening for Canada's main stock index on Monday, as oil prices fluctuated and ahead of a major U.S. presidential debate.