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kipp440

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kipp440

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Monday, 12/03/2007 10:26:11 AM

Monday, December 03, 2007 10:26:11 AM

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Agrium to acquire UAP Holdings for $2.65B
December 03, 2007: 08:33 AM EST


NEW YORK, Dec. 3, 2007 (Thomson Financial delivered by Newstex) -- Agrium Inc. (NYSE:AGU) (TSX:AGU) Monday said it plans to acquire UAP Holdings Corp. for $39 a share in cash and an estimated $487 million of assumed debt, for a total of about $2.65 billion.

The all-cash purchase price represents a 30% premium over UAP's closing price of $29.91 on Friday. Agrium said.

The deal is expected to slightly add to Agrium's per-share earnings in the first year, and significantly add to earnings thereafter.

The companies expect to complete the transaction in early 2008.

Agrium shares closed at $57.84 on Friday.

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