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AGRIUM CEO: NOTHING NEW IN JANA PARTNERS' PRESENTATION
Oct. 2, 2012
Source: Agrium news release
Agrium Inc. (TSX and NYSE: AGU) commented today on the statements made by JANA Partners LLC.
"There is nothing new in statements made by JANA today. Agrium remains confident that shareholders will receive far greater value, with less risk, under the company's current strategy," said Michael Wilson, Agrium's President and CEO.
Agrium has had several meetings with JANA since they first contacted Agrium in late May, including meetings in New York in early July and the last meeting held in mid-August. In early August the Agrium Board unanimously determined it was not in the best interest of shareholders to pursue a spinoff of Retail after having spent two months evaluating the concept.
Agrium has met extensively with shareholders since JANA disclosed its idea to break up Agrium. There is overwhelming shareholder support for the continuation of Agrium's integrated strategy.
Morgan Stanley & Co. LLC is acting as financial advisor to Agrium.
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