Agrium Announces the Completion of Its $900-Million Substantial
CALGARY, ALBERTA -- (Marketwire) -- 10/25/12 --
ALL AMOUNTS ARE STATED IN Cdn$ UNLESS OTHERWISE INDICATED
Agrium Inc. ("Agrium" or the "Corporation") (TSX:AGU) (NYSE:AGU)
announced today that it has taken up and paid for 8.74 million common
shares ("Shares") at a price of $103.00 per Share (the "Purchase
Price") under the Corporation's substantial issuer bid to repurchase
up to $900,000,000 of its Shares (the "Offer"). The Shares purchased
represent 5.5 percent of the Shares outstanding as of October 19,
2012 (undiluted). After giving effect to the repurchase, Agrium has
149.4 million Shares issued and outstanding (undiluted).
Shareholders had the opportunity to tender shares until 5:00 p.m.
Eastern Time on October 19, 2012, by electing an auction tender at a
price of their choice between $95.00 and $107.00 per Share or,
alternatively, by electing a purchase price tender at which they
could sell their Shares at the purchase price determined by the
The Offer was oversubscribed. As a result, shareholders who made
auction tenders at the $103.00 Purchase Price or below and
shareholders who made a purchase price tender had approximately 87.9
percent of their Shares purchased by Agrium. However, the Shares of
odd-lot holders who tendered their Shares at or below the Purchase
Price were purchased in their totality. In accordance with the terms
of the Offer, Shares tendered under an auction tender at a price
higher than the Purchase Price were not repurchased. Any Shares not
purchased, including Shares tendered at prices higher than the
Purchase Price or invalidly deposited, will be returned to
Ownership of the Shares not purchased by the Corporation under the
Offer will not be affected by the transaction.
Morgan Stanley Canada Limited and Morgan Stanley & Co. LLC acted as
dealer managers in connection with the Offer in Canada and the United
States, respectively, and as financial advisor to Agrium.
Agrium Inc. is a major Retail supplier of agricultural products and
services in North America, South America and Australia and a leading
global Wholesale producer and marketer of all three major
agricultural nutrients and the premier supplier of specialty
fertilizers in North America through our Advanced Technologies
business unit. Agrium's strategy is to grow across the value chain
through acquisition, incremental expansion of its existing operations
and through the development, commercialization and marketing of new
products and international opportunities.
Our strategy places particular emphasis on growth opportunities that
both increase and stabilize our earnings profile in the continuing
transformation of Agrium.
Vice President, Investor/Corporate Relations
Manager, Investor Relations
Analyst, Investor Relations
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