Terra Industries Inc. (TRA) confirmed Monday morning that it received a revised proposal from CF Industries Holdings Inc. (CF) to acquire Terra for $29.25 per share in cash, net of Terra's previously declared $7.50 per share special cash dividend, plus 0.1034 of a share of CF common stock per Terra share.
Terra Industries gapped open sharply higher Monday, but gave back some its gains during the first 2 hours of trade. The stock finished up by $2.22 at $41.27 on strong volume. Shares rose above a 2-week range and set a new high for the year.
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