CF Industries withdraws Hart-Scott-Rodino filing in offer for Terra

By Lisa Kerner

Charlotte, N.C., April 23 - CF Industries Holdings, Inc. voluntarily withdrew its March 23 Hart-Scott-Rodino filing with the Federal Trade Commission in connection with the company's proposed acquisition of Terra Industries Inc.

According to CF Industries, the withdrawal gives the FTC additional time to review the proposed merger without the need for a "second request" for information.

CF Industries said it will re-file its notification with the FTC "as soon as practicable."

On March 16, Agrium Inc., a Calgary, Alta., fertilizer company, began an unsolicited exchange offer for CF Industries shares after CF Industries rejected Agrium's offer to acquire the company. The exchange offer expires at midnight ET on May 19.

Agrium is offering CF Industries shareholders $35.00 in cash plus one Agrium common share for each CF Industries share held.

As previously reported, CF Industries' board recommended that stockholders reject Agrium's offer in favor of pursuing a deal with Terra.

Terra, a Sioux City, Iowa, nitrogen products company, rejected CF Industries' unsolicited offer as well as its prior offer in January.

Agrium also withdrew its Hart-Scott-Rodino filing with the FTC and said it plans to refile it shortly.

Deerfield, Ill.-based CF Industries Holdings is the holding company for CF Industries, Inc., a producer and distributor of nitrogen and phosphate fertilizer products.

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