CALGARY — Agrium Inc. (TSX:AGU) extended its offer for CF Industries Holdings Inc. (NYSE:CF) on Monday until Oct. 22.
Terms of the offer, which was to expire Tuesday, remain unchanged at US$40 in cash plus one Agrium share for each CF share.
Agrium shares were down $1.57 at $55.67 on the Toronto Stock Exchange, while CF Industries shares were down US$1.17 at $89.02 on the New York Stock Exchange.
Agrium said approximately 11.2 million CF shares had been tendered as of Sept. 18.
CF has resisted Agrium’s takeover efforts to pursue a bid to acquire rival Terra Industries Inc.
“Agrium remains fully committed to acquiring CF, and as we have previously stated, we strongly believe that combining Agrium and CF will create a terrific company and significant value for stockholders,” Agrium president and CEO Mike Wilson said.