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CF Industries extends offer for Terra Industries' shares to June 26
By Lisa Kerner
Charlotte, N.C., May 22 - CF Industries Holdings, Inc. extended its exchange offer for all of the outstanding shares of Terra Industries Inc. to 5 p.m. ET on June 26 from 5 p.m. ET on June 12.
As of May 21, a total of 56,814 shares of Terra common stock had been tendered into the exchange offer, according to a CF news release.
CF Industries said it extended the expiration date on news that Terra will not hold its annual meeting prior to June 12 as expected.
Terra, a Sioux City, Iowa, nitrogen products company, rejected CF Industries' unsolicited offer as well as its prior offer in January.
As previously reported, CF Industries rejected a revised offer from Agrium Inc. to acquire the company for $40.00 per share plus one common share of Agrium for each CF share in favor of pursuing a deal with Terra.
Agrium, a Calgary, Alta., fertilizer company, began an unsolicited exchange offer for CF Industries' shares on March 16. The offer is set to end on June 15.
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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