News

Potash Corporation, Agrium move closer to merger

Canada-based Potash Corporation and Agrium have received the final approval needed from the US Federal Trade Commission (FTC) to complete their merger. The deal is expected to close on Jan. 1.

The FTC will require the companies to divest two of Agrium’s US facilities that it claims would negatively impact competition.

The companies will sell Agrium’s Conda, Idaho superphosphoric acid facility and its North Bend, Ohio nitric acid facility.

Once completed, the combined companies will be known as Nutrien, which will be the largest crop nutrient company in the world and third-largest natural resource company in Canada.

Agrium has 1,500 facilities and more than 3,000 crop consultants. Agrium’s President and Chief Executive Officer Chuck Magro says they expect to “move quickly upon closing to begin delivering the many strategic benefits and synergy potential of this combination.”

The company’s headquarters will be in Saskatoon.