Hedge fund Jana Partners accused Canadian fertilizer company Agrium Inc on Monday of improperly paying brokers and investment advisers for shareholder votes as Jana's battle to shake up Agrium's board enters its final week.An Agrium spokesman said Jana's comments are baseless, and that the company is soliciting dealers as a means of getting information to Canadian shareholders that are hard to reach.Jana, the largest shareholder in Agrium, has said the company should look at spinning off its retail division, return more capital to shareholders, cut costs and add relevant retail experience to its board.Citing a private memo from Agrium, Jana said Agrium is offering to pay 25 Canadian cents per share voted in favor of the company's nominees for its board of directors. Payment is contingent on Agrium's full slate of 12 candidates winning election to the board, Jana said.
Agrium Inc. (Agrium) is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU fell by 1.1% or $-1.07/share to $96.43. In the past year, the shares have traded as low as $74.28 and as high as $115.31. On average, 909554 shares of AGU exchange hands on a given day and today's volume is recorded at 451893.
Agrium Inc. (Agrium) is a global producer and marketer of nutrients for agricultural and industrial markets. Shares of AGU fell by 0.9% or $-0.89/share to $98.17. In the past year, the shares have traded as low as $77.50 and as high as $116.38. On average, 514524 shares of AGU.TO exchange hands on a given day and today's volume is recorded at 102261.
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