terra industries inc

Deerfield-based chemical manufacturer CF Industries Holdings Inc. said Thursday that it has withdrawn its offer to acquire fertilizer company Terra Industries Inc.

• 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.