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Agrium Buys Royster-Clark
NEW YORK - Feb 9/06 - SNS -- Agrium Inc. bought 32,070,190 Royster-Clark Income Deposit Securities (IDSs), giving it control over 98.6% of the IDSs. Agrium has taken up all of the IDSs deposited under the offer, which expired on February 8, 2006.
Agrium intends to acquire the remaining common shares of Royster-Clark Ltd. pursuant to the compulsory acquisition procedures of the Business Corporations Act (Ontario) at the offer price of $2.70 (Canadian) per common share and, as provided for in the offer, to make an offer to purchase any subordinated notes of Royster-Clark ULC that previously formed part of an IDS at the offer price of $9.20 (Canadian) per $6.08 (Canadian) principal amount of subordinated notes.
The acquisition of ownership and control of the 32,070,190 IDSs by Agrium (through its wholly-owned subsidiary, Agrium Acquisitions Inc.) under the offer at a price of $11.90 (Canadian) per IDS represent all of the IDSs and component common shares and subordinated notes beneficially owned or controlled by Agrium.
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