Fertilizer groups CF Industries, Yara International terminate merger talks
10/17/2014 12:00:00 AM
CF Industries on Friday announced that the company and Yara International have terminated their discussions regarding a potential merger of equals transaction.
I want to thank the management team and Board of Directors of Yara International for their cooperation and professionalism throughout our discussions, said Tony Will, CEO of CF Industries. Although we identified very significant operational and structural synergies, we were ultimately unable to agree on terms of a transaction that met the requirements of all our respective shareholders.
Both companies have significant global market share within urea and ammonia.
CF Industries has a strong stand-alone business plan and we are confident in the material increase in our cash flow generation as our capacity expansion projects come on-stream as scheduled," added Will.
"We remain fully committed to driving shareholder value creation by investing in high return projects while returning excess cash to stockholders through dividends and a substantial share repurchase program.
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