Agrium Says It Has No Plans to Sell Retail
Associated Press -- TORONTO, ON -- August 15, 2012 -- Canadian fertilizer maker Agrium says it has carefully evaluated the idea of spinning off its retail division and decided against the plan.The Calgary, Alberta-based company issued a statement Tuesday after a report that U.S. hedge fund Jana Partners has purchased a large stake in Agrium in a move to push the fertilizer giant to cut costs and sell its retail arm.
Agrium says it will continue to with an integrated business strategy that combines retail sales and large-scale fertilizer production.
Michael Wilson, Agrium's president and CEO, says management is confident shareholders will receive greater value and less risk with the company's current strategy.
Agrium originated as a fertilizer producer and has diversified into other parts of the agriculture services sector, including a major U.S. retail presence.
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