In February 2019, Nutrien, through its Australian subsidiary Landmark Operations announced the proposed acquisition of Australian rural retail organization RuralCo. Nutrien needed to satisfy the Chinese and Indian regulators because of concerns it would corner the potash market. Tianqi was to purchase 62.5 million SQM A shares for $65 each. In May 2018, Nutrien announced it would sell to Tianqi Lithium a 24% stake in the Chilean mining company Sociedad Química y Minera (SQM) for approximately $4.1 billion. Nutrien is based in Saskatoon, the former headquarters of PotashCorp, but it will maintain corporate offices in Calgary, the former headquarters of Agrium. Agrium CEO Charles Magro became CEO of the new company, while PotashCorp CEO Jochen Tilk became Executive Chair. Based on the terms of the merger, former PotashCorp shareholders were given 52% of Nutrien, while Agrium shareholders were given 48%.
The transaction was originally expected to close in mid-2017, but was delayed to January 2018 because of regulatory hurdles final regulatory approval from the United States Federal Trade Commission (FTC) was only received in December 2017. The new company also hopes to reduce costs through consolidation it estimates that it will be able to decrease costs by $500 million USD. The merger was suggested in the context of low fertilizer prices, leading to the hope that a larger company will be better able to increase prices. PotashCorp and Agrium first proposed merging in September 2016. It was formed through the merger of PotashCorp and Agrium, in a transaction that closed on January 1, 2018. It is listed on the Toronto Stock Exchange (symbol NTR) and New York Stock Exchange (symbol NTR), with a market capitalization of $34 billion as of January 2018. It has over 2,000 retail locations across North America, South America, and Australia with more than 23,500 employees. It is the largest producer of potash and the third largest producer of nitrogen fertilizer in the world.
Nutrien is a Canadian fertilizer company based in Saskatoon, Saskatchewan. Privacy | Terms and Conditions | This is a Suckerpunch Creation.Agrium, PotashCorp (PCS), Agrichem do Brasil S.A., Agrible, Inc., Actagro, Grupo TEC AGRO, Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact us at the phone or email associated with this communication. Additionally, program information may be made available in languages other than English. (Not all prohibited bases apply to all programs). Department of Agriculture (USDA) prohibit discrimination in all of their programs and activities on the basis of race, color, national origin, gender, religion, age, disability, political beliefs, sexual orientation, and marital or family status. So, pulses are a terrific crop to grow, and eat! Check us out on Facebook and the U.S. As an added benefit, dry peas, lentils, beans, and chickpeas are a sustainable crop that benefits the soil and work well in many crop rotations. Pulses are versatile in all kinds of recipes. Also known as “pulses” these crops are nutritional powerhouses packed with protein, fiber, and other essential nutrients. The USA Dry Pea & Lentil Council and the American Pulse Association represent the dry pea, lentil, dry bean, and chickpea industry in the United States. Finished Product Processor/Food Manufacturer.
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