Agrium acquires UAP Holding for $39 per share

By Lisa Kerner

Charlotte, N.C., May 7 - Agrium Inc. subsidiary Utah Acquisition Co. was merged with and into UAP Holding Corp. following the successful tender offer by Agrium U.S. Inc. for UAP on Friday.

It was previously reported that Agrium accepted for payment all the 52.17 million shares, or 98.5% of UAP Holding's outstanding shares, tendered and not withdrawn in the offer.

Remaining shares of common stock of UAP Holding have been converted into the right to receive the same $39 in cash per share that was paid in the tender offer, an Agrium news release said.

UAP Holding shares will cease to be traded on the Nasdaq Global Select Market.

In December, Agrium said it agreed to acquire UAP Holding for $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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