Wednesday, December 27, 2017

Agrium, Potash Corp. merger ok’d

The United States has granted approval for Agrium and Potash Corp. of Saskatchewan to merge.

The companies said they will begin to operate as Nutrien on Jan. 1.

Agrium needed to sell two production facilities in the U.S. to gain approval there.

One will go to Itafos and the other to Trammo Inc.

The two agreed in September, 2016, to pursue a merger that would require approvals from a number of countries. The U.S. was the final hurdle.

The partners say they believe the merger will reduce costs by $500 million a year.

Potash Corp. is the world’s largest potash-mining company and Agrium is the world’s largest fertilizer retailing company.

Potash has its head office in Saskatchewan and Agrium in Calgary.