CF Industries renews bid for Terra Industries

Fertilizer company CF Industries has renewed its bid to buy Terra Industries, saying that it has acquired 7 percent of Terra's shares over the past two weeks and that it has offered to buy the rest of Terra in a deal worth nearly $4 billion.

The two companies operate fertilizer plants across from each other in Donaldsonville, La.

Deerfield-based CF Industries said it has bought nearly 7 million shares of Terra, which also makes fertilizer products, for $247 million.

Terra said its board of directors will consider the new proposal.