Potash Corp. and Agrium merge, create $27bn fertilizer giant

Canada’s Potash Corp. of Saskatchewan (TSX:POT) (NYSE: POT), the world’s largest producer of the fertilizer by capacity, and smaller rival Agrium (TSX:AGU) (NYSE: AGU) have agreed to an all-share merger, creating this way the world’s largest crop-nutrient supplier worth about $27 billion.

The move, the biggest Canadian merger since CNOOC Ltd. bought Nexen Energy ULC in 2013, will give Potash Corp. shareholders 52% of the new company, which has yet to be named, while Agrium investors will hold the rest, both firms said in joint statement.

Agrium chief executive officer, Chuck Magro, will assume as the boss of the combined group. Potash Corp. leader, Jochen Tilk, will in turn become executive chairman. The new company will be based in Saskatoon, Saskatchewan, the current location of Potash Corp.’s headquarters.

 

More to come…

The post Potash Corp. and Agrium merge, create $27bn fertilizer giant appeared first on MINING.com.

from MINING.com http://ift.tt/2cpcBY5