CF shares gain on Agrium takeover speculation

Shares in CF Industries Holdings Inc. soared at the start of morning trading on Friday on speculation the way has been cleared for Agrium Inc. to take over the U.S. company after CF abruptly dropped its own hostile bid for another competitor on Thursday.

CF shares were 5.7% to US$98.54 on the New York Stock Exchange, shortly after the market open.

Meanwhile, shares in Agrium were down 1.85% to C$65.09 on the Toronto Stock Exchange.

CF had given up on its bid for Terra Industries Inc. Thursday night, but the company has long maintained that the Agrium hostile bid was not connected to whether or not it was successful in getting Terra.

Read Full Article from CBC.ca

- Posted: 2010-01-15 11:26:24

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