Hedge fund continues to push for Agrium breakup

Reuters / Hedge fund Jana Partners LLC, the largest shareholder in Agrium Inc., is calling for the company to be more open to discussing ways to boost shareholder value. Jana, which has been pushing for a split of the Canadian fertilizer company’s wholesale and retail division, says Agrium’s responses to the issues it has raised

Machinery dealers, meat packers likely to suffer

While U.S. crops of corn and soybeans wilt in the worst U.S. drought in a half-century, winners and losers are emerging in the agriculture sector of the Toronto Stock Exchange. Shares of Agrium Inc. and PotashCorp of Saskatchewan are up 21 per cent and eight per cent since June 1, lagging far behind the spike


Canadian farm groups want curbs on Agrium’s clout

Reuters / Two influential Canadian farm groups will urge the country’s Competition Bureau to scale back Agrium Inc.’s proposed purchase of Viterra Inc. assets, saying Agrium might become too powerful in the sale of fertilizer and other crop supplies. In a $6.1-billion deal, global commodities giant Glencore International PLC will buy Viterra, Canada’s biggest grain

Viterra shareholders back Glencore

Reuters / Shareholders of Canada’s largest grain handler, Viterra Inc., voted overwhelmingly May 29 in favour of a friendly takeover bid by Swiss commodities trader Glencore International Plc., pushing the biggest deal in years for the global agricultural sector closer to reality. The deal was supported by 99.8 per cent of shareholders, far more than


Bigger and bigger and …

Two years ago March 12, trumpets blasted in Ankeny, Iowa, as America’s new gladiators for agricultural justice — U.S. Attorney General Eric Holder, Jr., his antitrust chief Christine Varney, U.S. Department of Agriculture boss Tom Vilsack and hundreds of farmers — gathered for a day-long discussion on “competitive dynamics of the seed industry; trends in

Viterra shareholders to vote May 29

Reuters / Shareholders in Viterra Inc. will vote May 29 whether to approve a $6.1-billion friendly takeover of Canada’s biggest grain handler by Swiss-based commodities trader Glencore International PLC. The vote will be taken at a special shareholder meeting in Calgary, Alberta, a Viterra spokeswoman said. The deal’s completion requires approval of two-thirds of the


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

In Brief… – for May. 19, 2011

All wheels covered:CAA Manitoba members can now seek roadside assistance 24 hours a day, seven days a week when their bike chain breaks or a tire tube pops. Bike Assist is a new benefit that allows CAA members to use any of their four annually allotted service calls to receive roadside assistance if their bike


Cargill Calls For Orderly End To Orderly Marketing

The Canadian government should give the grain industry at least six months to adjust before ending the Canadian Wheat Board’s grain monopoly, the chief executive of Cargill’s Canadian subsidiary said May 11. A good time for the change, which would allow Western Canada’s farmers to sell their wheat and barley to anyone they choose instead

Corporate Concentration Affects All Aspects Of Farming

Complaints about corporate control of the development of new genetically engineered crop varieties have to be placed in perspective, says Gord Surgeoner, president of Ontario Agri-Food Technologies. “One of the most important things in agriculture is financing,” he told the Commons agriculture committee as part of a study of biotechnology development in the country. “I