Regina-Saskatchewan Wheat Pool Inc. said May 29 that it has been successful in its offer to acquire Agricore United (GM May 14, p. 1). Approximately 49.1 million limited voting common shares and 545,193 Series A convertible preferred shares of AU have been tendered. As a result, SaskPool said it has met the condition of the offer, which required at least 75 percent of the AU common shares to be validly deposited. The tendered common shares represent approximately 81.6 percent of the common shares and will be acquired for $20.50 in cash per share. The preferred shares taken up represent approximately 49.4 percent and will be acquired for $24.00 per share, plus accrued and unpaid dividends. SaskPool has also extended the offers to enable those shareholders who have not yet tendered to deposit their securities. The offers will now expire at 5:00 p.m. (Toronto time) on June 12, 2007.
Transparency Across the Fertilizer Value-Chain