Fertilizer!
Agrium to acquire UAP Holdings for $2.65B
December 03, 2007: 08:33 AM EST
(Too bad there aren't many microcap opportunities in fertilizer. Bobwins has a wildcard posted on the Food and Agriculture board trading at $2.00.)
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.
