M&A

20 November, 2009

Terra vote: 45 pct to 35 pct for CF slate-source

NEW YORK, Nov 20 (Reuters) - Terra Industries Inc (TRA.N) voted to elect a dissident slate of three directors backed by rival CF Industries Holdings Inc (CF.N) by a margin of roughly 45 percent to 35 percent in preliminary vote counts, according to a source familiar with the matter.

Around 85 percent of Terra's outstanding shares were voted in the proxy fight, the source said.

CF launched a hostile bid for Terra in January. As of late September, CF owned about 7 percent of Terra's shares. (Reporting by Michael Erman; Editing by Lisa Von Ahn)

Source: http://www.reuters.com