Potash Corp and Agrium SASKATOON and CALGARY, Dec. 27, 2017 /PRNewswire/ - Potash Corporation of Saskatchewan Inc. (PotashCorp) (TSX and NYSE: POT) and Agrium Inc. (TSX and NYSE: AGU) are pleased to announce today that they have received clearance from the United States' Federal Trade Commission and have now obtained all regulatory approvals required to close their proposed merger of equals transaction. The transaction is expected to close effective January 1, 2018 and remains subject to customary closing conditions.
"This final clearance marks a significant milestone in bringing two industry leaders together," said Chuck Magro, President and Chief Executive Officer of Agrium. "Given our extensive integration planning work, we expect to move quickly upon closing to begin delivering on the many strategic benefits and synergy potential of this combination."
"We are pleased to have received final regulatory clearance and look forward to the formation of Nutrien," said Jochen Tilk, President and Chief Executive Officer of PotashCorp. "Nutrien will build upon the impressive legacies and best practices of both companies to create long-term value for all our stakeholders."
With the closing of the transaction on January 1, 2018, the common shares of Nutrien are expected to commence trading on the Toronto Stock Exchange (TSX) and the New York Stock Exchange under the ticker symbol "NTR" at the opening of market on January 2, 2018. Trading of Agrium common shares and PotashCorp common shares is expected to be suspended at the opening of market on January 2, 2018, and such shares will be delisted at the close of market on the same date. Cash entitlements in lieu of fractional Nutrien common shares will be based on the trading price of the Nutrien common shares on the TSX on the first five days of trading on such exchange. Such entitlements will be delivered as soon as practicable thereafter to former Agrium and PotashCorp shareholders who have submitted their duly completed letters of transmittal and elections forms in accordance with the procedures described in the applicable letter of transmittal and election form.