Calgary-Agrium Inc. said Oct. 3 that it has received clearance from Australia’s Foreign Investment Review Board (FIRB) regarding Agrium’s proposed acquisition of AWB Ltd. (AWB) under the previously announced scheme of arrangement at a price of A$1.50 per share, or A$1.2 billion (GM Aug.23, p. 1). FIRB has notified Agrium that there are no objections to the proposed acquisition in terms of the Australian Government’s foreign investment policy. As a result, Agrium says the condition precedent to the Scheme Implementation Deed between Agrium and AWB in relation to this approval is now satisfied. AWB and Agrium continue to progress with the process of seeking the required regulatory, shareholder, and court approvals.
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