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Mar 12/10 - Agrium has dropped its hostile takeover bid for CF Industries. The Calgary-based fertilizer producer says it will let its offer expire later this month, after battling for the CF shares for more than a year. Agrium had most recently offered $45 (US) and one common Agrium share for each CF share. But the deal was contingent on CF to drop its own bid for rival Terra Industries. In a turn of events, Terra agreed to CF's latest offer, turning down another bid by Norway's Yara International. CF owns Medicine Hat-based Canadian Fertilizers.
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Andy Carlson
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