The chief executive of Canadian fertilizer company Hanfeng Evergreen Inc plans to take it private, agreeing to purchase the nearly 80 percent of shares he does not already own.Hanfeng said in a statement on Monday that Agrium Inc , a much larger Canadian fertilizer company and holder of about 20 percent of Hanfeng's stock, has agreed to vote its shares in favor of the deal. Hanfeng, based in Toronto, makes slow- and controlled-release fertilizer for China and Indonesia.Hanfeng Chief Executive Officer Xinduo Yu and a corporation owned by Yu have agreed to pay C$2.25 per share for the 79.6 percent of Hanfeng's stock that he doesn't already own.The price is a premium of 47 percent over the volume-weighted price of the shares on the Toronto Stock Exchange over the 30 trading days prior to Yu's initial offer on Jan. 8. Yu's first offer was for $2.20 per share.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 0.17% or $0.2/share to $114.59. In the past year, the shares have traded as low as $74.28 and as high as $115.31. On average, 646871 shares of AGU exchange hands on a given day and today's volume is recorded at 118893.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 0.56% or $0.64/share to $115.44. In the past year, the shares have traded as low as $77.50 and as high as $116.38. On average, 488889 shares of AGU.TO exchange hands on a given day and today's volume is recorded at 107104.
Hanfeng Evergreen Inc. (Hanfeng) is a producer and supplier of value-added fertilizer solutions. Shares of HF traded higher by 2.31% or $0.05/share to $2.21. In the past year, the shares have traded as low as $1.30 and as high as $3.05. On average, 38019 shares of HF.TO exchange hands on a given day and today's volume is recorded at 153358.
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