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Friday, September 26, 2014

Norsk Hydro CEO to stay on, will not take the reins at Yara, (NYSE: POT)

Aluminium producer Norsk Hydro Chief Executive Svein Richard Brandtzaeg withdrew his resignation on Friday and said he would not take the helm at fertiliser maker Yara, which is in merger talks with rival CF Industries.Yara, the world's biggest nitrate fertiliser maker, and Chicago-based CF Industries revealed this week that they were in talks about a merger of equals that would create a $27 billion global fertilizer producer to rival world number one Potash Corp of Saskatchewan.Brandtzaeg, who agreed in July to leave Hydro after 29 years and lead Yara, was expected to start his new job on Feb. 1.He said a key precondition for him to join Yara was no longer in place after merger talks with CF Industries were revealed.

Potash Corporation of Saskatchewan Inc. (PCS) is an integrated fertilizer and related industrial and feed products company. Shares of POT fell by 0.06% or $-0.02/share to $35.04. In the past year, the shares have traded as low as $29.95 and as high as $38.58. On average, 3685900 shares of POT exchange hands on a given day and today's volume is recorded at 4774834.