Hedge fund Jana Partners on Monday escalated its effort to overhaul fertilizer and ag retail giant Agrium, by nominating a slate of board candidates to buttress its demand that the fertilizer company split up its wholesale and retail divisions. New York-based Jana, Agrium’s largest shareholder, has been pressuring the fertilizer maker and farm products retailer
Agrium pressured for change in proxy battle
Agrium refuses investor demand to spin off retail
Fertilizer and ag retail firm Agrium said Tuesday it would not take the “substantial risk” of spinning off its retail operations, as the company sought to fend off pressure from activist investor Jana Partners. Jana, a New York City hedge fund, disclosed in a filing on Tuesday that it had bought more than 6.5 million
Agrium profit boosted by farmer demand
Agrium reported a 43 per cent rise in quarterly net profit Wednesday, sending its shares up 3.3 per cent in early trading, as higher crop prices led to stronger demand for the seeds, fertilizers and other agricultural products it sells. Agrium and its competitors have benefited in recent years from strong grain prices and increased
PotashCorp shares dip on grain prices, brokerage rating
Shares of Canadian fertilizer maker PotashCorp fell roughly 2.5 per cent on Wednesday after a dip in grain prices and a bearish view from a brokerage firm. National Bank analyst Robert Winslow initiated coverage of Saskatoon-based Potash Corp with an "underperform" rating on Wednesday, arguing that global potash supply is likely to increase more than
Potash Corp seeks permission to raise ICL stake
Fertilizer maker PotashCorp is seeking permission from Israeli authorities to raise its stake in rival Israel Chemicals (ICL) to 25 per cent, a government source said. "PotashCorp has requested approval from the government to raise its stake to 25 percent," the source, who asked not to be identified, told Reuters on Monday, confirming a report
PotashCorp Profit Soars On Strong Demand
PotashCorp, the world s top fertilizer maker, said Oct. 27 its quarterly profit more than doubled, as strong grain prices boosted demand for its crop nutrient products. Despite wides pread economic concerns during the quarter, the push to capitalize on strong crop prices continued to support demand for fertilizer around the globe, the company said.
Seeds Are Sown For Rally In Agricultural Stocks
Agricultural stocks could outperform the broad Canadian market in coming weeks as bearish crop forecasts and low grain inventories keep prices at record highs and spur increased fertilizer demand. Even with strong grain prices and a surge in crop nutrient prices, shares of Potash Corp., Agrium Inc. and Viterra have had a dismal run over
Surge In Grain Prices May Force BHP’s Hand
Surging world grain markets may force BHP Billiton to raise its $130-a-share offer for PotashCorp by 25 per cent or more as a subsequent jump in fertilizer shares wiped out its initial bid’s premium to investors. The burst in grain prices late last week may herald a fresh round of food inflation that won’t disappear
Agrium Sees AWB As A Platform For Retail Growth – for Sep. 9, 2010
Fertilizer maker and farm products retailer Agr ium Inc. sees Australia’s AWB as the perfect platform to continue expanding its global retail network, said a top company executive Aug. 16. Agrium has launched an unsolicited $1.1 billion bid to acquire AWB, Australia’s largest wheat exporter, trumping a rival offer from Australia’s GrainCorp. “The key is
Agrium, Rivals Seen Focusing On Smaller Deals
“Consolidation of the fertilizer industry worldwide is far from over.” – JOERGEN OLE HASLESTAD Aprotracted takeover battle in the global fertilizer industry ended this week with a victory for CF Industries Holdings Inc., but the losers are unlikely to wait long before climbing back into the fray. CF Industries’ agreement to acquire Terra Industries brought
Cyber-Savvy Farmer
