The Conversation (0)
Agrium Inc. (TSX:AGU), a Canadian fertilizer and seeds company, rose the most in five years after it was revealed that ValueAct Capital Management LLC disclosed that it has a 5.7 percent stake in the company.
Agrium Inc. (TSX:AGU), a Canadian fertilizer and seeds company, rose the most in five years after it was revealed that ValueAct Capital Management LLC disclosed that it has a 5.7 percent stake in the company.
According to Bloomberg:
Shares of Agrium surged after ValueAct said it owns 8.19 million shares in Agrium in a regulatory filing today. Agrium climbed 7.6 percent to C$104.33 at the close in Toronto after earlier gaining as much as 8.5 percent, the biggest intraday increase since March 2009. Before today, the shares had fallen 0.2 percent this year.
Jeffery Ubben, the chief executive officer of ValueAct, said:
[R]etail business is stable, and provides stability in a low crop price environment.