The war of words between fertilizer maker Agrium Inc and its biggest shareholder, Jana Partners, escalated on Monday with Agrium slamming the hedge fund's plan to split the company in a letter to investors ahead of its annual meeting next month.Calgary, Alberta-based Agrium, which has begun mailing its proxy circular to shareholders ahead of the meeting on April 9, said Jana's plan is an "ill-conceived scheme" that will destroy shareholder value.The activist U.S. hedge fund, which owns some 7.5 percent of Agrium's shares, has for months demanded a number of changes at the company, including a split between its wholesale fertilizer production arm and its retail business, which sells seeds, crop protection chemicals, fertilizers and other farm products.Talks aimed at developing a truce between the two sides broke down in February and Jana has proposed five candidates for election to Agrium's 13-member board.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU remained unchanged at $104.39. In the past year, the shares have traded as low as $74.28 and as high as $115.31. On average, 743310 shares of AGU exchange hands on a given day and today's volume is recorded at 0.
Agrium Inc. (Agrium), is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU traded higher by 0.48% or $0.51/share to $107.30. In the past year, the shares have traded as low as $77.50 and as high as $116.38. On average, 564962 shares of AGU.TO exchange hands on a given day and today's volume is recorded at 506749.
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