CF Industries Holdings (NYSE: CF) reported Thursday that it will close its $4.7 billion acquisition of Terra Industries Inc. (NYSE: TRA) after completing an exchange of company stock, according to Associated Press.
The merger will create one of the world's largest fertilizer companies.
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CF Industries said Terra shareholders had tendered 92 percent of the company's stock, or more than 92 million shares, in the offering, which expired Wednesday.
CF Industries Inc. said it can now complete the deal without a vote from Terra shareholders.
Each outstanding share of Terra stock not purchased in the exchange offer will be converted into the right to receive $37.15 in cash and 0.0953 of a share of CF Industries stock.
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