Terra Rejecting CF's Acquisition Proposal; Says It 'Substantially Undervalues Terra'

摘要

Sioux City— Terra Industries' board of directors has unanimously concluded that CF Industries' unsolicited offer to acquire the company for $2.1-billion is not in the best interests of Terra and its shareholders (PCN, 19 Jan 09, p 1). A letter sent to CF Industries on 28 Jan. from Terra explained: "We concluded that your proposal does not present a compelling case to create additional value for the shareholders of either company, and that it substantially undervalues Terra on an absolute basis and relative to your company. Accordingly, . . . we decline to accept it."