Once-volatile fertilizer prices are starting to show signs of stabilization, though the industry continues to be roiled by merger and takeover talk.
Prices were mixed for major products in the latest week, with no big moves seen. That left most eyes watching the competition to own assets, which focused on Agrium's $3.6 billion bid for CF Industries. CF didn't reject the offer outright, but said it would need time to study the proposal.
Agrium's move came after CF ramped up its own attempt to take over a rival by making nominations for three seats on the Terra Industries board, while indicating it would begin to tender for shares of that company's stock. Industry analysts speculated that CF might sweeten its offer for Terra; the Agruim deal would depend on CF abandoning its own takeover attempt.To read Bryce Knorr's complete weekly fertilizer review, click HERE.
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