As the largest global provider of crop inputs
and services, Nutrien will play a critical role in
"Feeding the Future", by helping growers to increase food
production in a
sustainable manner for a growing world.
SASKATOON and CALGARY, June 21,
2017 /CNW/ - Potash Corporation of Saskatchewan Inc.
(PotashCorp) (TSX and NYSE: POT) and Agrium Inc. (Agrium) (TSX and
NYSE: AGU) announced today that once the anticipated merger
transaction closes, the new company will be named Nutrien. The new
organization will be the global leader in reliable, low-cost crop
nutrient production, combined with the largest agricultural
retail-distribution network in the world.
The regulatory review and approval process for the merger
transaction continues and the parties expect closure of the
transaction to take place in the third quarter of 2017.
Merger of Agrium and Potash Corporation of Saskatchewan
Additional information on the merger between Agrium and
PotashCorp can be found at the following website
http://www.worldclasscropinputsupplier.com/. Information about
Agrium and PotashCorp can be found under their respective corporate
profiles on SEDAR at www.sedar.com or on EDGAR at www.sec.gov,
respective websites at www.agrium.com and www.potashcorp.com, or by
contacting the representatives below.
About PotashCorp
PotashCorp is the world's largest crop nutrient company and
plays an integral role in global food production. The company
produces the three essential nutrients required to help farmers
grow healthier, more abundant crops. With global population rising
and diets improving in developing countries, these nutrients offer
a responsible and practical solution to meeting the long-term
demand for food. PotashCorp is the largest producer, by capacity,
of potash and one of the largest producers of nitrogen and
phosphate. While agriculture is its primary market, the company
also produces products for animal nutrition and industrial uses.
Common shares of Potash Corporation of Saskatchewan Inc. are listed
on the Toronto Stock Exchange and the New York Stock Exchange.
About Agrium
Agrium Inc. is a major global producer and distributor of
agricultural products, services and solutions. Agrium produces
nitrogen, potash and phosphate fertilizers, with a combined
wholesale nutrient capacity of approximately eleven million tonnes
and with significant competitive advantages across our product
lines. We supply key products and services directly to growers,
including crop nutrients, crop protection, seed, as well as
agronomic and application services, thereby helping growers to meet
the ever growing global demand for food and fibre. Agrium
retail-distribution has an unmatched network of approximately 1,500
facilities and over 3,300 crop consultants who provide advice and
products to our grower customers to help them increase their yields
and returns on hundreds of different crops. With a focus on
sustainability, the company strives to improve the communities in
which it operates through safety, education, environmental
improvement and new technologies such as the development of
precision agriculture and controlled release nutrient products.
Agrium is focused on driving operational excellence across our
businesses, pursuing value-enhancing growth opportunities and
returning capital to shareholders. For more information visit:
www.agrium.com
Forward-Looking Statements
Certain statements and other information included in this press
release constitute "forward-looking information" or
"forward-looking statements" (collectively, "forward-looking
statements") under applicable securities laws. All statements in
this press release, other than those relating to historical
information or current conditions, are forward-looking statements,
including, but not limited to, statements as to Agrium and
PotashCorp management's expectations with respect to the proposed
combination of Agrium and PotashCorp (the "transaction") under a
new parent company. This press release also contains
forward-looking statements regarding the anticipated completion of
the transaction and timing thereof. Forward-looking statements in
this press release are based on certain key expectations and
assumptions made by Agrium and PotashCorp, including expectations
and assumptions concerning the receipt, in a timely manner, of
regulatory and stock exchange approvals in respect of the
transaction. Although Agrium and PotashCorp believe that the
expectations and assumptions on which such forward-looking
statements are based are reasonable, undue reliance should not be
placed on the forward-looking statements because Agrium and
PotashCorp can give no assurance that they will prove to be
correct. Forward-looking statements are subject to various risks
and uncertainties which could cause actual results and experience
to differ materially from the anticipated results or expectations
expressed in this press release. The key risks and uncertainties
include, but are not limited to governmental and regulatory
requirements and actions by governmental authorities, including
changes in government policy, government ownership requirements,
changes in environmental, tax and other laws or regulations and the
interpretation thereof; and other risk factors detailed from time
to time in Agrium and PotashCorp reports filed with the Canadian
securities regulatory authorities and the United States Securities
and Exchange Commission. There are also risks that are inherent in
the nature of the transaction, including failure to obtain any
required regulatory and other approvals (or to do so in a timely
manner). The anticipated timeline for completion of the transaction
may change for a number of reasons, including the inability to
secure necessary regulatory, stock exchange or other approvals in
the time assumed or the need for additional time to satisfy the
conditions to the completion of the transaction. As a result of the
foregoing, readers should not place undue reliance on the
forward-looking statements contained in this press release
concerning the timing of the transaction.
Agrium and PotashCorp disclaim any intention or obligation to
update or revise any forward-looking statements in this press
release as a result of new information or future events, except as
may be required under applicable U.S. federal securities laws or
applicable Canadian securities legislation.
SOURCE Agrium Inc.