Merger of PotashCorp and Agrium finalized as shares in Nutrien start trading
The partnership of dual of Canada’s biggest manure names became central on Tuesday, as shares in Nutrien Ltd. will embark trade on a TSX on Jan. 2, innate out of a total remains of PotashCorp and Agrium.
“Today we are unapproachable to launch Nutrien, a association that will forge a singular position within a cultivation industry,” a new company’s CEO Chuck Magro pronounced in a news release.
Magro was a CEO of Agrium in 2016 when a tie-up with opposition manure PotashCorp of Saskatchewan was initial proposed.
Saskatoon-based PotashCorp is one of a world’s heading suppliers of potash and a vital writer of other fertilizing minerals. Calgary-based Agrium, meanwhile, was a personality in other line and had an endless network of sell operations.
The understanding worked a approach by a Byzantine array of shareholder and regulatory approvals before finally apropos central this morning.
The total association has some-more than 1,500 plantation sell centres, and employs some-more than 20,000 people opposite operations in 14 countries — though will sojourn headquartered in Saskatoon.
Original Agrium shareholders perceived 2.23 shares in Nutrien for each share they had in Agrium. PotashCorp shareholders, meanwhile, perceived 0.4 new shares for every old one.
Shares in a new association began trade on batch exchanges in Toronto and New York a small after 9:30 a.m. eastern time on Tuesday morning. The stock, which trades underneath a ticker pitch NTR, non-stop during $65.23 in Toronto before jumping adult a small and afterwards slumping down to about $65.05 a share in Toronto nearby midday.
The ticker black for a aged companies, POT and AGU, respectively, have been halted. And both will eventually be phased out. After they have been dead for some-more than one calendar year, both ticker black will be adult for grabs by other companies — and POT is expected to be an appealing moniker for one of Canada’s many pretender pot companies.
Article source: http://www.cbc.ca/news/business/potash-agrium-nutrien-merger-1.4469690?cmp=rss