Agrium, UAP merger clears Canadian regulatory hurdle

By Lisa Kerner

Charlotte, N.C., Jan. 22 - The Canadian Commissioner of Competition approved the proposed merger of Agrium Inc. and UAP Holding Corp.

Agrium said the receipt of the commission's "no-action" letter satisfies the Competition Act condition under the companies' merger agreement.

As previously reported, Agrium extended its $39-per-share tender offer for all of the common stock of UAP Holding to midnight ET on Feb. 25, from midnight ET on Jan. 17, because not all of the closing conditions had been met.

On Dec. 3, Agrium agreed to acquire UAP Holding in a deal valued at $2.65 billion, including debt.

UAP Holding, located in Greeley, Colo., is the holding company of UAP Inc., an independent distributor of agricultural and non-crop products in the United States and Canada.

Agrium is a retail supplier of agricultural products and services in North America and South America and a producer of agricultural nutrients and industrial products. The company is based in Calgary, Alta.

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