CF relaunches bid for Terra, tops Yara offer

Breaking its weeks-long silence, CF strongly criticized Terra's planned tie-up with Norway-based Yara, which was announced about a month after CF called off its year-long effort to buy Terra in January.

"We do not understand how Terra could have entered into an agreement with Yara without giving CF Industries an opportunity to bid on a level playing field," CF Chief Executive Stephen Wilson wrote to Terra CEO Michael Bennett.

Prices for fertilizer and other agricultural commodities slipped during the recession, but are beginning to rebound as farmers plant more crops and the world population continues to grow. That's put more pressure on the fertilizer industry to become more efficient, including gobbling each other up.

Read Full Article from Reuters

- Posted: 2010-03-02 10:37:58

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