Business

CF Industries stops financing

Posted December 16, 2009 10:00 pm

DEERFIELD - CF Industries Holdings Inc. announced that it will not seek to extend the financing commitments for its proposed acquisition of Terra Industries Inc., which expire on Dec. 31. CF

Industries said that its ability to obtain financing for any transaction with Terra after that date will depend on the credit markets and other factors at that time. CF Industries also stated that it has sold a sufficient number of Terra shares in market transactions to bring its interest in Terra to just below 5 percent of Terra's outstanding shares. As a result, CF will no longer be required to file a Schedule 13D with respect to Terra with the U.S. Securities and Exchange Commission.

There can be no assurance that CF Industries will take further action to acquire Terra or that the financing necessary to fund such a transaction will be available after Dec. 31.

Article Comments

Article Categories
Business Communities Counties Deerfield Lake County

Article Comments

Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.