Terra Industries Inc. agrees to buy bankrupt Mississippi Chemical Corp. for $107 million in stock in a deal that would expand Terra's fertilizer-making capabilities.Terra Industries Inc. agrees to buy bankrupt BANKRUPT. A person who has done, or suffered some act to be done, which is by law declared an act of bankruptcy; in such case he may be declared a bankrupt. 2. It is proper to notice that there is much difference between a bankrupt and an insolvent. Mississippi Mississippi, state, United States Mississippi (mĭs'əsĭp`ē), one of the Deep South states of the United States. It is bordered by Alabama (E), the Gulf of Mexico (S), Arkansas and Louisiana, with most of the border formed by Chemical Corp. for $107 million in stock in a deal that would expand Terra's fertilizer-making capabilities. Under the terms of the deal, Sioux City Sioux City, city (1990 pop. 80,505), seat of Woodbury co., NW Iowa, at the junction of the Big Sioux and Floyd rivers with the Missouri; inc. 1857. It is a shipping, wholesale trade, and industrial center for an extensive agricultural and livestock area (including , Iowa-based Terra said it will also assume $161 million of debt. Terra expects the acquisition of Mississippi Chemical to add to earnings and cash flow in the first year after closing, which is expected no later than the first quarter of 2005. |
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