Agrium Inc. (AGU) a company that engages in the retail of agricultural products and services, Thursday urged shareholders to focus on the key issues and to vote using only the WHITE proxy FOR Agrium's nominees for the Board of Directors prior to the April 5 at 11 a.m.,Calgary time, proxy voting deadline.
Commenting on the brewing tension between Agrium and investment advisor JANA Partners LLC, the company said to shareholders, "JANA's agenda does not include cooperation with the incumbent directors, contrary to its prior claims. Further, JANA's nominees, with their short-term golden leashes, are incentivized to pursue actions that your Board believes will destroy long-term value. If any of its director nominees get onto your Board, you should assume they will continue to agitate for a break up of the company and other actions contrary to the creation of lasting shareholder value."
Agruim further said spinning off retail and pursuing JANA's other ideas would expose Agrium shareholders to substantial risk with no sustainable benefit.
For comments and feedback: editorial@rttnews.com