Canadian Company To Buy Arcadian Corp.

Potash Corp. of Saskatchewan Inc. has an agreement to buy a major U.S. nitrogen producer in a deal worth up to $1.22 billion that will create one of the world’s largest fertilizer companies.

The Saskatoon-based mining company announced plans Monday to pay a combination of cash and stock for Arcadian Corp. of Memphis, Tenn., the largest producer of nitrogen fertilizers in the Western Hemisphere.

Potash is already a leader in making phosphate and potash fertilizers, two other substances that farmers use to encourage crop growth.

The combined company would have revenue estimated at $2.8 billion to $3 billion.