Group says GM alfalfa a nightmare scenario

Genetically modified alfalfa threatens Canada’s entire organic grain sector, says Manitoba Organic Alliance. Organic farmers won’t be able to shield their farms from pollen because insects can spread it as far as three miles, says the group. Contamination will then create a trade barrier for any Canadian crop exported to GM-free countries, said Ken Sabatier

Agrium blasts hedge fund’s breakup plans

Reuters / The war of words between fertilizer maker Agrium Inc. and its biggest shareholder, Jana Partners, escalated March 4 with Agrium slamming the hedge fund’s plan to split the company in a letter to investors ahead of its annual meeting next month. Calgary, Alberta-based Agrium, which has begun mailing its proxy circular to shareholders


Student contest promotes watershed stewardship

The winners receive cash prizes as well as money to implement their ideas for improving watersheds STAFF / Agrium and the Oak Hammock Marsh Interpretive Centre have teamed up to offer the Caring for our Watersheds competition for high school students in Manitoba. Geared for Grade 7 to 12 students, individuals interested in the environment

Proxy battle looms for May in Agrium-Jana standoff

Canadian fertilizer company Agrium Inc. has failed to prove that it should keep its two main divisions together, and also needs to cut costs and use capital more effectively, activist shareholder Jana Partners said Feb. 7. Jana, the largest Agrium investor with six per cent of shares, was rebutting a presentation the company made to


Mosaic profit falls on weak China sale

reuters / Mosaic’s quarterly operating profit fell 30 per cent and the fertilizer producer said it expects potash margins to fall further in its current quarter, a reflection of its recent low-priced contract with China. China has been aggressively negotiating for lower potash prices. In December, Sinofert Holdings signed a deal with Canpotex — the

Jana takes case for Agrium breakup to Canada investors

Reuters / Activist shareholder Jana Partners LLC said Jan. 23 it is taking its case for splitting up Agrium Inc. to the fertilizer company’s Canadian investors, just ahead of an Agrium move to solidify its support among sell-side analysts. Jana, a New York-based hedge fund, wants Agrium to split its farm retail division from its


Agrium profit, outlook slump on lower potash sales

Agrium shares slumped seven per cent after it reported a 56 per cent drop in third-quarter profit on lower potash sales and offered a weaker-than-expected outlook for the fourth quarter. Downtime at Agrium’s Saskatchewan potash mine and drawn-out contract talks with China and India hurt third-quarter performance, CEO Mike Wilson said. The company’s stock had

Potash sales suffer as China and India stop buying

Reuters / PotashCorp of Saskatchewan’s third-quarter earnings fell 22 per cent as a standoff over new contracts led to a sharp drop in shipments to China and India, the world’s two biggest consumers of the company’s namesake crop nutrient. Overseas potash shipments by North American producers dropped by one-quarter to 1.9 million tonnes in the


Agrium doubling dividend under shareholder pressure

Reuters / Fertilizer maker and ag retailer Agrium said Oct. 22 it plans to double its annual dividend, marking its third increase to the payout in less than a year. The move, announced as the Calgary company completed a $900-million share buyback, comes amid pressure from its largest shareholder, Jana Partners LLC, which wants Agrium

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