cf industries holdings inc

Deerfield-based chemical manufacturer CF Industries Holdings Inc. said Thursday that it has withdrawn its offer to acquire fertilizer company Terra Industries Inc.

CF Industries Holdings Inc. has rejected rival fertilizer maker Agrium Inc.'s sweetened takeover bid, saying the $4.5 billion bid significantly undervalues the company.

• Terra Industries Inc. (NYSE: TRA) announced that its Board of Directors, with the advice of its financial and legal advisors, has carefully reviewed CF Industries Holdings, Inc.'s (NYSE: CF) latest proposal to acquire Terra for the equivalent of $24.50 in cash (which equals the net value of CF's announced offer of $32.00 that will be reduced by Terra's previously declared $7.50 per share special cash dividend) and 0.1034 of a share of CF common stock, and unanimously rejected it as inadequate, opportunistic and not in the best interests of Terra and its shareholders.

• Terra Industries Inc. (NYSE: TRA) sent the following letter to CF Industries Holdings, Inc. (NYSE: CF) in response to CF's letter dated August 5, 2009: The Board of Directors of Terra Industries Inc., with the assistance of its financial and legal advisors, has carefully considered your latest proposal to combine our companies.

Fertilizer maker CF Industries Holdings Inc. on Monday said Terrell Huch joined the company as senior director, investor relations and corporate communications, succeeding Charles Nekvasil.

• Agrium Inc. (NYSE: AGU) today announced that CF Industries Holdings, Inc.'s (NYSE: CF) stockholders have tendered approximately 30.14 million CF shares, or 62% of the total outstanding CF shares, into its offer of $40.00 in cash plus one Agrium share per CF share as of the offer's expiration date last night at 12:00 midnight, New York City time.
  
  Agrium has extended the expiration date of the offer until 12:00 midnight, New York City time, July 22, 2009.