CF Industries Relaunches Bid to Acquire Terra Industries

Fertilizer producer CF Industries (CF 107.54) has relaunched its bid to buy rival Terra Industries (TRA 41.20), with a new bid of $47.40 per share in cash and stock.

In 2009, CF failed in repeated attempts to buy Terra, having been rebuffed by Terra's Board. In January 2010, Terra told CF it is not for sale. However, a month later, Norway's Yara International reached a deal to acquire Terra for $41.10 per share.

Of note, CF is currently fending off a hostile takeover attempt from Agrium (AGU).