DES MOINES (AP)--Holdings says it is willing to boost its bid for Terra Industries after its previously proposed takeover offers were repeatedly rejected.
The Deerfield-based fertilizer company says it would raise its fixed exchange ratio to 0.465 shares of CF Industries for each Terra common share. Its March bid proposed $30.50 for each Terra share with an exchange ratio between 0.4129 and 0.4539, or about $2.2 billion.
CF Industries Holdings Inc. says it would also return at least $1 billion in cash to shareholders of the combined company once the proposed deal closes and would distribute 5 million contingent future shares to CF stockholders.
CF says it has had regular contact with Terra since its initial offer in January.
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