CF Industries Holdings Gets Nod from Terra
The bid by CF Industries Holdings (NYSE:CF) for Terra Industries (NYSE:TRA) left a nice taste in the mouth of the company, and they let rival bidder Yara International ASA know it has five days to make a counter offer.
If there is no counteroffer, Yara International will walk away from the deal with a $123 million break-up fee, but nothing else in five business days.
Yara bid $4.1 billion for Terra, a fertilizer competitor of Yara based in the U.S. The bid by Yara, which valued Terra at $41.10 a share, was all in cash, while CF is offering $37.15 in cash, along with 0.0953 a share for each Terra share, which brings the total to $46.74 a share.
CF Industries Holdings Gets Nod from Terra
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