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
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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.
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