Terra Industries (NYSE:TRA) Share Hits 52-week High on CF’s Offer

Shares of Terra Industries Inc. (NYSE:TRA) are jumping over 12.50% in the opening session on Monday on the news made by CF Industries Holdings, Inc. (NYSE:CF) has relaunched a hostile bid worth $4.75 billion to buy its one of the biggest rival  Terra Industries.

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Also, Terra made a new 52-week high of $46.70 in the opening session.

CF, which had called off a year-long effort to buy Terra in January, said it was now offering $47.40 per share in cash and stock for the company based on Monday's closing prices.

The move is the latest chapter in the battle by fertilizer companies to expand their market shares in the agricultural industry, which has started to rebound as the global economic crisis fades.

However, shares of CF are down 5% at $102.17.

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