AGU, CF, TRA - 3 to Tango - Absurdity Reaches New Heights

Discussion in 'Trading' started by livevol_ophir, Mar 2, 2010.

  1. livevol_ophir

    livevol_ophir ET Sponsor

    Details, trades, prices, news here:

    ** UPDATE

    You can read the original post: <a href=""><b>CLICK HERE</b></a>.

    The absurdity continues! TRA is trading up 12.8% to 46.49. CF is trading down 3.8% to 103.45. AGU is trading up 2.8% to 67.66.

    The news is this:
    Terra Industries shareholders will receive $37.15 per share in cash as well as 0.0953 of a CF Industries Holdings(CF) share. The value of the deal is about $4.74 billion.

    -- And --

    Agrium (AGU) is offering one share of Agrium common stock and $45.00 in cash for each share of CF Industries common stock. The deal is valued at about $4.52 billion

    For those of you unfamiliar with these three companies I have include snippets of the prior post below (you can't make this stuff up).

    Here's a quick summary of the last year:

    As we sit today, TRA is getting bought out for $47 ($37.15 + 0.0953*103.45).
    AGUs bid for CF bid went from $72 to now over $110.

    (1) 1-16-2009: CF bids for TRA $2.1 billion
    (2) 2-4-2009: CF goes hostile over TRA
    (3) 2-25-2009: AGU bids $72 per share for CF
    (3a) CF rejects AGU
    (4) 5-11-2009: AGU ups bid to $82.50 per share for CF
    (5) 5-18-2009: CF rejects AGU (again)
    Details, trades, prices, news here:
    (6) 11-05-2009: see article
    (7) 11-19-2009: see article
    (8) 12-07-2009: CF re-ups (again) for TRA (8th time) (more than double prior bid)
    (9) 1-14-201: see article
    (10) 2-16-2010: see article
    (11) 3-2-2010: TRA gets bid $4.74 billion from CF

    Details, trades, prices, news here: