09:57 AM EST - Agrium Inc. : revealed an increase in its exchange offer to acquire all of the outstanding shares of CF Industries Holdings, Inc. CF stockholders will now receive $35.00 in cash, an increase of $3.30, or 10.4 per cent, in the cash consideration, as well as one common share of Agrium for each CF share. Based on Agrium's closing stock price on March 26, the increased offer represents a premium of 35 per cent to CF's closing price on February 24, 2009, the day before Agrium announced its initial proposal, and 48 per cent to the 30-day volume weighted average price through that date. Agrium also said it has filed with the U.S. Securities and Exchange Commission preliminary proxy materials in connection with CF's 2009 Annual Meeting of Stockholders, which urge CF stockholders to "Withhold" all votes in connection with the election of the three nominees to the CF Board of Directors. Agrium Inc.
shares T.AGU are trading down $1.28 at $47.70.
