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Share Name | Share Symbol | Market | Type |
---|---|---|---|
OCI NV | EU:OCI | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 26.43 | 26.10 | 26.49 | 26.46 | 26.06 | 26.34 | 188,101 | 16:40:00 |
By Ian Walker
LONDON--Fertilizer maker CF Industries Holdings Inc. said Monday it is in talks with Dutch peer OCI NV about a potential merger with some of OCI's businesses.
CF Industries didn't provide any details on a potential deal and said it doesn't plan to comment further at this stage. It cautioned there could be no assurance the talks would lead to a deal.
Separately, OCI confirmed it is in talks "about possible combinations or transactions," but didn't mention CF Industries. It also said it wouldn't comment further at this stage and warned the talks may not lead to a deal.
The Wall Street Journal on Friday cited people familiar with the matter as saying that CF Industries was in advanced talks with OCI on a merger, as chemical companies join a global takeover wave.
CF Industries operates nitrogen-manufacturing complexes in the central U.S. and Canada, and distributes plant nutrients through a system of terminals, warehouses and associated transportation equipment located primarily in the Midwestern U.S.
OCI produces nitrogen fertilizers, methanol and other natural gas-based products, serving agricultural and industrial customers from the Americas to Asia. It expects total production capacity to reach 12.5 million metric tons by 2017.
CF Industries is valued around $16.22 billion, based on its closing share price Friday, while OCI is valued around EUR6.25 billion ($6.77 billion). OCI's shares are trading 10% higher early Monday at EUR29.73.
Write to Ian Walker at ian.walker@wsj.com
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