SASKATOON and CALGARY, Oct. 18,
2017 /CNW/ - Potash Corporation of Saskatchewan Inc. (PotashCorp) (TSX and NYSE: POT) and Agrium Inc. (TSX and NYSE: AGU)
today announced that India has approved their proposed merger of equals transaction.
An Indian appellate court has approved a settlement reached between the merger parties and the Competition Commission of
India ("CCI") and has directed the CCI to issue a clearance order. The CCI's approval will be
conditioned on the parties' commitment to divest PotashCorp's minority shareholdings in Arab Potash Company, Israel Chemicals,
Ltd. and Sociedad Quimica y Minera de Chile S.A. within a period of 18 months from the issuance of the order. The companies are
permitted to consummate the merger prior to the divestments.
The companies previously received unconditional clearance for the merger in Canada,
Brazil and Russia. The regulatory review and approval process
continues in the U.S. and China and the parties expect to close the transaction by the end of
the fourth quarter of 2017.
Upon closing the merger transaction, the new company will be named Nutrien. As the largest global provider of crop inputs and
services, Nutrien will play a critical role in "Feeding the Future" by helping growers to increase food production in a
sustainable manner.
Additional information on the merger between Agrium and PotashCorp can be found at the following website http://www.worldclasscropinputsupplier.com/. Information
about Agrium and PotashCorp can be found under their respective corporate profiles on SEDAR at www.sedar.com or on EDGAR at www.sec.gov, respective websites
at www.agrium.com and www.potashcorp.com, or by contacting the representatives below.
About PotashCorp
PotashCorp is the world's largest crop nutrient company and plays an integral role in global food production. The
company produces the three essential nutrients required to help farmers grow healthier, more abundant crops. With global
population rising and diets improving in developing countries, these nutrients offer a responsible and practical solution to
meeting the long-term demand for food. PotashCorp is the largest producer, by capacity, of potash and one of the largest
producers of nitrogen and phosphate. While agriculture is its primary market, the company also produces products for animal
nutrition and industrial uses. Common shares of Potash Corporation of Saskatchewan Inc. are listed on the Toronto Stock Exchange
and the New York Stock Exchange.
About Agrium
Agrium Inc. is a major global producer and distributor of agricultural products, services and solutions. Agrium
produces nitrogen, potash and phosphate fertilizers, with a combined wholesale nutrient capacity of approximately eleven million
tonnes and with significant competitive advantages across our product lines. Agrium supplies key products and services directly
to growers, including crop nutrients, crop protection, seed, as well as agronomic and application services, thereby helping
growers to meet the ever growing global demand for food and fibre. Agrium retail-distribution has an unmatched network of
approximately 1,500 facilities and over 3,300 crop consultants who provide advice and products to our grower customers to help
them increase their yields and returns on hundreds of different crops. With a focus on sustainability, the company strives to
improve the communities in which it operates through safety, education, environmental improvement and new technologies such as
the development of precision agriculture and controlled release nutrient products. Agrium is focused on driving operational
excellence across our businesses, pursuing value-enhancing growth opportunities and returning capital to shareholders. For more
information visit: www.agrium.com
Forward-Looking Statements
Certain statements and other information included in this press release constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws. All statements in
this press release, other than those relating to historical information or current conditions, are forward-looking statements,
including, but not limited to: the completion of the proposed transaction and the expected completion date of the proposed
transaction.
Forward-looking statements in this press release are based on certain key expectations and assumptions made by Agrium
and PotashCorp, including expectations and assumptions concerning the time necessary to satisfy the conditions to the closing of
the transaction, including the regulatory approvals in connection therewith and the nature and timing of expected remedies
associated with such regulatory approvals. The anticipated closing date may change for a number of reasons, including due to the
need for additional time to satisfy the conditions to the completion of the transaction, including the receipt of the regulatory
approvals and/or execution of any remedies relating thereto. Although Agrium and PotashCorp believe that the expectations and
assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the
forward-looking statements because Agrium and PotashCorp can give no assurance that they will prove to be correct.
Forward-looking statements are subject to various risks and uncertainties which could cause actual results and experience to
differ materially from the anticipated results or expectations expressed in this press release. Key risks and uncertainties
include, but are not limited to: Agrium and PotashCorp being unable to satisfy conditions to closing of the proposed transaction,
including receipt of regulatory approvals, at all or within the timeframe set out in this press release; changes in government
policy, government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation
thereof; and other risk factors detailed from time to time in Agrium and PotashCorp reports filed with the Canadian securities
regulatory authorities and the United States Securities and Exchange Commission. The anticipated timeline for completion of the
transaction may change for a number of reasons, including the need for additional time to satisfy the conditions to the
completion of the transaction, including receipt of regulatory approvals in particular. As a result of the foregoing, readers
should not place undue reliance on the forward-looking statements contained in this press release concerning the timing of the
transaction.
Agrium and PotashCorp disclaim any intention or obligation to update or revise any forward-looking statements in this
press release as a result of new information or future events, except as may be required under applicable U.S. federal securities
laws or applicable Canadian securities legislation.
SOURCE Potash Corporation of Saskatchewan Inc.
View original content: http://www.newswire.ca/en/releases/archive/October2017/18/c2127.html