Court halts Russia’s $23.9-billion potash merger

Russian potash miners Uralkali and Silvinit are  battling to complete their $23.9-billion merger after a court halted the process following a claim by investor Acron.

The news item is quoted as saying:

“[Acron is] again attempting to challenge the share conversion ratios duly approved by the shareholders of both companies and [is] seeking an injunction to block the merger-related procedures,” Uralkali said in a separate statement, also on Monday.

“Uralkali and Silvinit believe that the claim is entirely without merit and intend to contest it vigorously,” it said.

To read the full article, click here.