Agrium-Potash Corp. Merger Expected to Close in Q4
Potash Corporation of Saskatchewan Inc. and Agrium Inc. report the regulatory review and approval process has progressed in all remaining jurisdictions, regarding their proposed merger of equals.
In Canada and the United States, the parties are working with the Canadian Competition Bureau and the Federal Trade Commission to resolve final issues in superphosphoric acid and nitric acid.
The companies have also been informed that the Ministry of Commerce in China and, independently, the Competition Commission of India intend to condition their respective approvals of the proposed transaction on the divestment of certain of PotashCorp’s offshore minority ownership interests.
The remedies under consideration are not expected to impact the estimated $500-million of annual operating synergies. Both companies remain highly confident in consummating the merger of equals, but now expect to close the transaction by the end of the fourth quarter of 2017.
Upon closing the merger transaction, the new company will be named Nutrien.
Additional information on the merger between Agrium and PotashCorp can be found at the following website http://www.worldclasscropinputsupplier.com/.