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Agrium to refile U.S. antitrust documents Friday

Last Updated: Thursday, December 27, 2007 | 4:18 PM ET

CBC News

Shares of fertilizer maker Agrium rose Thursday after the company got itself more time for U.S. regulators to consider the company's $2.65-billion US friendly bid for UAP Holding Corp.

Calgary-based Agrium said it withdrew an antitrust filing with the U.S. Department of Justice and the Federal Trade Commission today, and will refile it on Dec. 28. The refiling will give U.S. officials until Jan. 14 to question Agrium about its takeover bid.

Agrium 3-month TSX chartAgrium 3-month TSX chart

On the TSX, Agrium shares gained $1.51 to end at $70.89. The stock got up to $74.58 - a new one-year high - earlier in the trading session.

On Dec. 3, Agrium said it will pay $39 US for each share of Colorado-based UAP — a 30 per cent premium over the closing price of UAP before the deal was announced.

Colorado-based UAP is a major distributor of crop production supplies, such as seeds, chemicals, fertilizers, pesticides and herbicides.

An Agrium-UAP merger would create one of the largest farm supply firms in North America.

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