ISS recommends investors back merger
Published by Angharad Lock,
Digital Assistant Editor
According to Reuters, Institutional Shareholder Services (ISS) has recommended that investors in Agrium Inc. and Potash Corp of Saskatchewan support a merger of the companies.
The US$26 billion all-stock deal combines Potash's crop nutrient production capacity with Agrium's farm retail network.
Potash executives would collect payments of US$24.7 million and Agrium executives would get US$20.4 million to compensate them for a change in control of the companies, Reuters reported.
Agrium shareholders will meet to vote in Calgary, Alberta on 3 November, while Potash investors meet in Saskatoon, Saskatchewan. Potash shareholders are expected own 52% of the new company.
The deal requires two-thirds approval by shareholders of each company.
Read the article online at: https://www.worldfertilizer.com/potash/19102016/iss-recommends-investors-back-merger/
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