Agrium Will Buy Rival Company

Agrium Inc., a Calgary-based fertilizer company that keeps its North American western wholesale division in Spokane, has agreed to buy Canadian rival Viridian Inc. for $1.02 billion in stock.

The sale would combine Agrium, a fast-growing fertilizer manufacturer and distributor, with Fort Saskatchewan, Alberta-based Viridian, Canada’s largest maker of nitrogen, phosphate and sulfate fertilizers.

The deal is valued at $13.65 per share of Viridian stock.

The transaction is the latest by a large North American fertilizer maker that is designed to lower costs, gain international clout and bolster companies against industry slumps.

Viridian shareholders will vote on the transaction at a special meeting before the end of the year.

, DataTimes