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Universal Potash Corp (UPCO:OTC US)
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text size: T | TM2 Communications 11/07/2016 5:53 AM ET
PotashCorp’s shareholders vote in support of proposed merger of equals with Agrium
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Crop nutrient company Potash Corporation of Saskatchewan (NYSE:POT) said on Friday that its shareholders have voted to approve its planned merger of equals with Agrium (TSX:AGU.TO).
At the Special Meeting of PotashCorp shareholders, more than 99% of the shares voted were voted in favour of the merger, with approximately 494 million, or 59%, of its outstanding shares voted at the meeting.
In addition, Agrium's security holders overwhelmingly voted to approve the planned merger at a special meeting of its security holders.
Subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals and final approval by the Canadian court, this transaction is expected to close mid-2017,
PotashCorp said it produces the three essential nutrients required to help farmers grow healthier, more abundant crops. With global population rising and diets improving in developing countries, these nutrients offer a responsible and practical solution to meeting the long-term demand for food. It is the largest producer, by capacity, of potash and one of the largest producers of nitrogen and phosphate.
