No 'stale, frail' CEO for new US$27b fertiliser giant
One of Canada's youngest chief executives will run huge corporation created by Potash-Agrium merger
New York
THE merger of Potash Corp of Saskatchewan Inc and Agrium Inc will create one of Canada's largest corporations and a company run by one of the country's youngest chief executive officers.
Chuck Magro, 46, who has been Agrium's CEO since 2014, was instrumental in leading the US$12.9 billion transaction announced on Monday. The zero-premium deal, described by both sides as a merger of equals, will create a fertiliser company with investments spanning 18 countries. It's the biggest Canadian corporate deal this year after Enbridge Inc's plan to buy Spectra Energy Corp, which was disclosed last week.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Saudi Arabia hikes oil selling prices for all grades to Asia
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
ExxonMobil to take 18 to 24 months to hit full stride with Pioneer purchase
Oil settles down on US jobs data, steepest weekly loss in three months
Glencore Group nears deal for Shell’s Singapore oil refinery
Opec+ may need to tackle oil capacity conundrum next month