AGRIUM COMMENCES TENDER OFFER TO NU-WEST INDUSTRIES INC. SHAREHOLDERS.CALGARY, Alberta--(BUSINESS WIRE)--Aug. 16, 1995--Agrium Inc. announced today it has commenced a tender offer for all of the common shares of Nu-West Industries Inc. Details of the tender offer have been filed with the U.S. Securities and Exchange Commission and have been mailed to Nu-West shareholders. Agrium will pay US$10.50 in cash for each share of Nu-West common stock. The tender offer will expire Sept. 14, 1995, unless extended. It will be conditional upon the tender of at least 60 percent of the approximately 9.4 million common shares on a fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis and upon the expiration of the waiting period under the Hart-Scott-Rodino Anti-Trust Improvements Act. The board of directors of Nu-West has unanimously recommended acceptance of the offer. Paine Webber Paine Webber and Company was an American stock brokerage firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Inc. has acted as financial advisor to Nu-West and has rendered a fairness opinion Fairness Opinion A report put together by qualified analysts or advisors providing to key decision makers an evaluation of and facts about a merger or acquisition. Notes: A fairness opinion serves as a document used for guidance in a merger, takeover, or acquisition. in connection with the transaction. Agrium previously announced that owners of approximately 4.6 million Nu-West common shares have already agreed to tender into the offer. Agrium Inc. is one of North America's largest integrated and diversified fertilizer fertilizer, organic or inorganic material containing one or more of the nutrients—mainly nitrogen, phosphorus, and potassium, and other essential elements required for plant growth. companies. Nu-West is a producer and marketer of phosphate fertilizer products. CONTACT: Larry Thiessen, 403/258-4615 or Dick Nichols Richard Nichols (born April 29, 1926) is a U.S. Representative from Kansas. Born in Fort Scott, Kansas, Nichols attended public schools. He earned his B.S. from Kansas State University in 1951. He was ensign in the United States Navy from 1944 to 1947. , 403/258-5746 |
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