Yara has received notification from Terra Industries
(Thomson Reuters ONE) -
Oslo (2010-03-10): Yara International ASA (Yara) has received a notification
from Terra Industries Inc. (Terra) that the proposal from CF Industries is, in
Terra's view, a superior proposal to the merger agreement signed 12 February by
Yara and Terra.
As announced on 15 February 2010, Yara and Terra entered into a merger
agreement, pursuant to which Yara agreed to acquire all of the outstanding
common stock of Terra for $41.10 per share in cash. The merger agreement may be
terminated under certain circumstances, including if Terra receives a superior
proposal, as that term is defined in the merger agreement, provides advance
notice to Yara and Yara does not match the superior proposal within five
business days. The deadline for matching this superior proposal will expire by
17 March at 17:00 New York time. If Terra terminates the merger agreement under
such circumstances, Yara will be entitled to a USD 123 million break-up fee.
Yara will have no further comments on the response to Terra on the notification
until Yara's Board of Directors has completed their evaluation.
Contact
Torgeir Kvidal, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 91 339 832
E-mail torgeir.kvidal(at)yara.com
Asle Skredderberget, Media Relations
Cellular (+47) 41 44 36 10
E-mail asle.skredderberget(at)yara.com
Yara International ASA is the world's leading chemical company that converts
energy, natural minerals and nitrogen from the air into essential products for
farmers and industrial customers. As the number one global supplier of mineral
fertilizers, we help provide food for a growing world population. Our industrial
product portfolio includes environmental protection agents that prevent air
pollution. Yara's global workforce of 8000 employees represents the great
diversity and knowledge that enables Yara to remain a leading performer in the
industry.
www.yara.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1392528]
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Datum: 10.03.2010 - 08:26 Uhr
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News-ID 1011161
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