(RTTNews) -  Agrium Inc. (AGU: News ,AGU.TO: News ) sent a letter to CF Industries Holdings Inc. (CF: News ) stockholders, stating that Agrium has made its best and final offer worth $97.47 per CF share.

Agrium requested CF stockholders to tender their shares by November 18, 2009, which will send a clear message to the CF board that CF stockholders want to receive a premium, not pay one.

Agrium also said that if it receives stockholders resounding support and CF Refuses to Act Agrium will consider all options, including litigation and nominating a slate of directors.
On November 5, 2009, Agrium increased its offer to acquire all of the outstanding shares of CF Industries Holdings, Inc. Our clear and unambiguous offer of $45.00 in cash and one common share of Agrium for each CF share is equivalent to $97.47 per CF share, or total consideration of approximately $4.9 billion, based on Agrium's closing stock price of $52.47 on November 11, 2009.

Agrium said that its revised offer represents a 106% premium to CF's January 15, 2009, price of $47.23, and a premium of over 75% to CF's closing price of $55.58 on February 24, 2009, the day before Agrium announced its initial proposal. Since Agrium's initial proposal in February, the total value of its offer has increased approximately $1.3 billion, or 36%.

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by RTT Staff Writer

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