Agrium raising cash for CF bid

Agrium Inc., North America's third-largest fertilizer producer, said it may raise as much as $1 billion by issuing various securities as it attempts to acquire competitor CF Industries Holdings Inc.

The registration, filed Sept. 10, "has nothing to do with CF whatsoever," Richard Downey, a company spokesman, said in a phone interview.

Calgary-based Agrium is refiling a similar registration from 25 months ago that is about to expire and the company doesn't plan to issue the securities, he said. Chief Executive Officer Mike Wilson repeated last month that Agrium is committed to buying CF Industries, offering $40 a share in cash plus one U.S. dollar-denominated Agrium share.

Agrium has twice raised the cash portion since it launched the buyout bid in February. The regulatory filing on Sept. 11 said an issuance may include common and preferred shares, debt and subscription receipts.

The proceeds would be used to repay debt, make acquisitions or finance capital spending, Agrium's filing said.