PotashCorp and Agrium to become Nutrien after merger

PotashCorp and Agrium to become Nutrien after merger

PotashCorp (TSX, NYSE: POT) will change its name to Nutrien once the merger transaction with Agrium is completed, making it the world’s biggest fertiliser producer.

The Canadian company said the new organisation will be the global leader in reliable, low-cost nutrient production, combined with the largest agricultural retail distribution network in the world.

The deal, expected to close before the end of the year, will create the world’s largest potash miner worth around US$36 billion including debt.

PotashCorp had previously tried to acquire German firm K+S for $8.8 billion but the two parties were unable to agree on a price.

The new organisation will be headquartered in Saskatchewan, Canada where PotashCorp is currently based and will also have a corporate office in Agrium’s current location of Calgary.

@RGNonline