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PotashCorp and Agrium Now See Merger Closing in Q4 2017
Potash Corporation of Saskatchewan Inc. (TSX:POT,NYSE:POT) and Agrium Inc. (TSX:AGU,NYSE:AGU) provided an updated on the status of their proposed merger. Both parties “remain highly confident” that the deal will close, but now expect that to happen in Q4 2017.
As quoted in the press release:
The regulatory review and approval process has progressed in all remaining jurisdictions. In Canada and the US, the parties are working with the Canadian Competition Bureau and the Federal Trade Commission to resolve final issues in superphosphoric acid (SPA) and nitric acid.
The companies have also been informed that the Ministry of Commerce (MOFCOM) in China and, independently, the Competition Commission of India (CCI) intend to condition their respective approvals of the proposed transaction on the divestment of certain of PotashCorp’s offshore minority ownership interests.
