Fertilizer Market Quiet, Industry Isn't
Shares of fertilizer companies among hottest on Wall Street.
Bryce Knorr
Published: May 22, 2009
While the fertilizer market continues to calm down after a volatile year, the war of words among nutrient producers is doing anything but. Takeover battles within the industry appear likely to keep going into June, probably beyond, with firms stockpiling cash to do deals or stave them off.
CF Industries rejected the latest — and very much unsolicited -- purchase offer from Agrium, prompting an angry response from Agrium. Its offer is set to expire June 15. CF, meanwhile, is still trying to acquire Terra Industries, in another takeover attempt.
Shares of fertilizer companies remain among the hottest on Wall Street, in part because companies enjoyed huge profits when grain prices surged. Lack of competition for some products keeps margins strong, as well.
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