Activist shareholder Jana Partners LLC said on Wednesday it is taking its case for splitting up Agrium Inc to the fertilizer company's Canadian investors, just ahead of an Agrium move to solidify its support among sell-side analysts.Jana, a New York-based hedge fund, wants Agrium to split its farm retail division from its wholesale operations and make other changes to improve returns to shareholders.Agrium has steadfastly refused to consider spinning off its retail arm while seeking to placate disgruntled shareholders by raising its dividend last year and completing a share buyback."Agrium's board has been living in an alternate universe where shareholders have no desire to explore the many ways we've identified to unlock value," said Jana managing partner Barry Rosenstein, one of the hedge fund's candidates for Agrium's board.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 0.44% or $0.49/share to $110.88. In the past year, the shares have traded as low as $74.28 and as high as $110.39. On average, 762722 shares of AGU exchange hands on a given day and today's volume is recorded at 1076133.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 1.03% or $1.13/share to $110.65. In the past year, the shares have traded as low as $77.50 and as high as $109.58. On average, 548083 shares of AGU.TO exchange hands on a given day and today's volume is recorded at 708706.
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