Canadian fertilizer company Agrium Inc will not split its wholesale and retail divisions as its biggest shareholder, Jana Partners, wants because it would "destroy value" for shareholders, Chief Executive Officer Mike Wilson said on Monday.Wilson was speaking in New York to Agrium's sell-side analysts in an attempt to blunt Jana's move to replace part of Agrium's board and effect changes it says would increase returns to investors.Wilson said Jana preferred to talk to Agrium's shareholders and analysts rather than to the company itself, despite an understanding last spring that Agrium and Jana would keep talks on improving the company private."They'll say one thing and do the opposite ... They're good at breaking up companies," Wilson said. "They're very good at saying, 'Why not just engage some ideas?' The answer is, if we do, we'll destroy value for our company, and we're not about to do that."
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 0.04% or $0.05/share to $114.68. In the past year, the shares have traded as low as $74.28 and as high as $115.08. On average, 771053 shares of AGU exchange hands on a given day and today's volume is recorded at 146159.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 0.34% or $0.39/share to $115.75. In the past year, the shares have traded as low as $77.50 and as high as $115.44. On average, 538770 shares of AGU.TO exchange hands on a given day and today's volume is recorded at 93422.
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