M&A

19 November, 2009

CF shareholders back Agrium bid in vote

NEW YORK, Nov 19 (Reuters) - About 62 percent of CF Industries' (CF.N) shares have been tendered in favor of Agrium Inc's (AGU.TO) hostile takeover bid, according to a source familiar with the matter, but the outcome of Agrium's drawn-out effort to acquire its smaller U.S. rival was more likely to be determined at a different vote later in the week.

Terra Industries' (TRA.N) annual meeting on Friday, where CF has nominated a slate of three directors, more likely will determine a winner in the merger battle among three fertilizer makers.

CF, which has been fending off Agrium since February, is locked in its own hostile campaign to acquire Terra. (Reporting by Michael Erman)

Source: http://www.reuters.com