JANA Partners Reminds Agrium Shareholders To Vote The BLUE Proxy Or VIF Before
Tomorrow, April 5 At 9am Eastern Time
Confident that Value-Unlocking Change is Coming to Agrium's Board Next Tuesday
Nominee Biographies and More Information Available at www.JanaAGUAnalysis.com
NEW YORK, April 4, 2013 /CNW/ - JANA Partners LLC today reminded all
shareholders of Agrium Inc. (TSX / NYSE: AGU) to vote their BLUE proxies or
VIF "FOR" value-unlocking change via Internet, phone or fax by 7:00amCalgary
time / 9:00am Eastern time tomorrow, April 5(th). JANA Managing Partner and
board nominee Barry Rosenstein also made the following statement:
"Based on the results so far, we are highly confident that real change is
coming to Agrium's board. Every vote still counts, however, and we encourage
all shareholders to make their voices heard by voting the BLUE proxy or VIF
well before the deadline.
It is unfortunate that Agrium management still cannot seem to imagine a board
with differing views that works collaboratively to reach the right result, but
not only is it possible, it is vital. A lack of differing views does not make
a board strong, it makes it weak. We have seen that with Agrium's board, from
a failure to ask the tough questions about costs, capital allocation, returns
on investment and other matters, to its conduct in this campaign, including
approving a divisive campaign of entrenchment, merely to avoid adding a
minority of experienced new directors.
Despite all this, my fellow nominees and I stand ready to work collaboratively
with the full board to find areas of common agreement for the benefit of all
shareholders. No matter what has come before, everyone on Agrium's board will
share the same goal: Doing what's best for Agrium. JANA is Agrium's largest
shareholder and all of our nominees have substantial personal investments in
Agrium, so no one has more interest in finding common ground than we do.
While Agrium continues to describe our efforts in simplistic campaign terms,
it will soon be time to turn to the harder business of maximizing value for
shareholders. These are the ideas we have been focused on this entire
campaign, as embodied in the 5 C's of opportunity for Agrium: Costs,
Controls, Capital Allocation, Conglomerate Structure and Corporate Governance.
In none of these areas would we be able to force change; change will only
come through building consensus with the full Agrium board about the best path
forward for all Agrium shareholders.
As for Agrium's comments this morning, we do not view attempting to purchase
an election as a 'distraction' and it is the height of arrogance to criticize
us for not raising earlier something that the company kept hidden. We raised
it when we learned of it, and if the board wished to avoid discussing vote
buying it should not have pursued it. It is also only one example of the need
for change at Agrium. Fortunately, that change is coming soon."
North America's leading proxy advisory firm, Institutional Shareholder
Services (ISS), believes that there is a "compelling" case for change at
Agrium and advises shareholders to vote the BLUE proxy for nominees Rosenstein
VOTE ONLY THE BLUE PROXY OR VIF "FOR" UNLOCKING AGRIUM'S TRUE VALUE
Your vote is important, no matter how many shares you own. If you have not
yet voted your BLUE proxy or VIF, please do so today FOR the election of the
JANA nominees. Even if you have already voted using the white proxy, you can
change your vote by submitting a BLUE proxy or VIF now, which will revoke any
previously submitted proxy or VIF and be counted at the meeting.
For questions or assistance, please contact Kingsdale Shareholder Services
Inc., at 1-866-581-1514 toll-free in North America, or 1-416-867-2272 outside
of North America, or by email at email@example.com. To keep
current with further developments and information about voting your shares,
JANA Partners LLC, (212) 455 0900
SOURCE: JANA Partners LLC
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CO: JANA Partners LLC
ST: New York
-0- Apr/04/2013 14:31 GMT
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