STOCKHOLM, Sweden _ Norway's Yara International (OTO: YARIY, Stock Forum) and Deerfield, Illinois-based CF Industries (NYSE: CF, Stock Forum) have abandoned merger talks that would have created a massive player in the fertilizer industry.
Both companies say discussions have been terminated because they couldn't agree on terms acceptable to all shareholders.
A merger would have created a combined company with a market capitalization of more than $26 billion and annual sales of about $20 billion.
Torger Kvidal, the CEO of Yara International ASA, said Friday that despite significant synergies, ``in the end it became clear that we would not be able to agree on terms that would be acceptable to all stakeholders.''
Yara has a broad, global presence, with facilities and warehouses in dozens of countries and sales to more than 150 countries. CF concentrates on nitrogen fertilizer manufacturing and distribution.