CF Industries acquires Terra Industries for $4.7bn

Christopher Goodfellow - 5 April 2010

A bidding war between fertilizer giants has drawn to a close after CF Industries reached a merger agreement with TerraCair manufacturer Terra Industries.

Terra received a series of hostile bids from CF Industries during 2009, before accepting a $4.1bn offer from rival Yara which would have seen the merger of two of North America's biggest DEF distributors. However, CF Industries countered with a $4.7bn offer which Terra accepted in March. This was more than double its original $2.1bn offer from January 2009.

According to CF Industries the deal makes it the second largest nitrogen fertilizer manufacturer in the world, after Yara.

For further analysis on the merger and its impact on the North American DEF market see April edition of Integer's AdBlue and DEF Monitor.

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